I think that everyone has a business model and is entitled to run their business how they want.

First, you need to examine why it is you want to go out of state.Second, you need to figure out what your model/strategy is going to be.

The property is a 2 story, newer model (2006) home with no playground equipment, lead based paint, etc.Regards,Jerry

I know of many high end properties owners who have not paid the mortgage for years, but the children are attending private schools, riding their horses, have ski passes and are going on expensive vacations a few times a year.In some of the middle class areas we see 5 cars in the driveway on weekdays, and most of them are not older models.

Mitch, my accountant recommended the LLC based on our business model, with the option of converting to an S-corp down the road based on how things go.

All the homes in here are mostly early 70's models and 2/1's.

Our cost was around 41k with all repairs and upgrades (many of which were simply spending more money than was needed to make the computer model "say" we would save 50% on energy and thus get half our money back!

Fundamentally, the business model had flaws though and we didn't have enough cash to sustain our lifestyle and work through the flaws to make it viable long term.

There is definitley no right or wrong answer to this of course but I think there are a few rules of thumb I would apply:1) Keep it professional2) Do not relate it to flipping...this can have a negative stigma to some people and you may change your business model over time3) Check with registered businesses in the state you open your business in to make sure you do not pick a name that can get confused with another business

I used the model lease agreement provided by BP which covered everything.