We just implemented this strategy.

My attorney says he prefers it when there is a business reason for the state of the LLC, and he said either your home state or where the property is located is suitable.A much bigger topic is whether or not having an LLC is a good strategy given your personal situation. 

At entry there is a multi-exit strategy and multi-hold strategy contingent planning well mapped out.

@Corina Eufinger Thanks for the reply and other ideas for investor strategies.

There are a lot of moving pieces with that strategy, so having someone who understands how to properly track expenses, capital improvements, and refinances is key.

Specialized policies, contractor recommendations, tenant screening, lease agreements, utilities, and exit strategies are also important.Good luck!

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If you’d like, I can share resources or strategies to help you get started, connect you with mentors, or guide you through your next steps.

Turnkey is generally a passive investment strategy, where you just buy from an operator and turn it over to them to manage.

@Savannah Holzer Well, if I stay with SFR as my strategy, then yes, at least at first, while I figure out the self-mangage/landlord gig.