That said, I wouldn't use a Series at all in CA in order to avoid the $800 franchise tax there, but the structure would still be similar and you could still buy the properties personally.

The tenant is running dog daycare and franchise.

@Justin Urich and @Gwen FyfeNew owners are are getting mail either from the franchise owner wholesalers (ugly houses guys) and others who spend a boat load on marketing or newbies that didn't scrub their list and only selected absentee owners. 

Yes you will also need your certificate of formation, operating agreement, franchise tax info(if applicable in IL)-basically just bring the company book with you.

Jerry, Duraglaze is a national franchise who does glazing and repair (and I see they have offices in Chicago).

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

Someone mentioned one to me that had only $150 a month charge with no split and no franchise fee. 

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

@Shawn Kross I have a decent amount of experience in lending on hotels, typically larger and either in core markets or affiliated with a Marriott/Hilton franchise, but if you want to send me a message with some more info or the listing brochure I'm happy to give you some thoughts on how to approach the valuation.