If the LLC owns a property in a different state, most of the time, the other state will require you register your LLC as a foreign LLC. 

Foundations actually don't come up that much in Chicago.... so many awesome brick properties.

The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

We don't want to bring on every owner or every property unless they fit within our target market, so, I do the far majority of the sales - this is our check and balance.

I know that RTR positions themselves as “turnkey” but the reality is that they are more of a hybrid model - they set you up with everything you need and facilitate relationships with lenders, insurance, property managers, and so forth - but they are not the actual service providers.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

@Justin Brin Yes, you can elect to aggregate your rental properties for Qualified Business Income (QBI) purposes, but once you do, you must continue to aggregate those same properties in future years unless there is a significant change in circumstances (such as disposing of a property).

its not the upper tier properties that are doing well.

If you are living there you can keep the 4% rate.If you are not living there you can rent it out to pay for the property taxes. 

I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there.