No problem - you don't lose the property, the management company shuts down and you form a new one (again, assuming the structure is setup properly)Best thing to do is contact a local professional who can guide you according to your circumstances and your goals....As far as maxing out on financing - if you do it correctly you can get great tax savings, you are a less attractive target for lawsuits, you can make more money, and you don't have to take the credit hit personally - but this takes much more planning and effort....

California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

For years we have been using a website called Real Yields to build pro-formas on all of our single-family investment properties (we sell 6 every week).

New Jersey requires a physical address in the state to form a "domestic" LLC, so I will have to register my business as a foreign LLC in NJ in order to do business there.

Hi BP!  I wanted to share the spreadsheets my wife and I created to do deal analysis and accounting for SFR rentals.Proforma:http://www.biggerpockets.com/files/user/SpiralLoxo...- Assumption inputs can be entered as e...

From past experience, if you want to form a partnership in an LLC, never use a 50-50 formula.

Not sure if you are still thinking about STRs at your North Charleston house, but we’d be happy to talk with you about our STR program and provide you with a pro forma projection for your house.  

Even better, form a trust, let it hold the house, and earn the bulk of the income to pay taxes legally at 15% instead of 28%, and to pad the investment from frivolous lawsuits

Last I heard, it was illegal to form a group for the purpose to buy insurance, now that we have changes, no idea, call your SIC. :)

You will need to file the LLC in MA as a foreign LLC and pay for the formation, annual report fees and registered agent for MA.