I am a landlord in New Jersey.

Good morning BPI am new to real estate, looking to invest in a nice starter home to live in New Jersey (south).

I have lived in Missouri most of my life, but my family is all from Pennsylvania and New Jersey.

My question is if my sister and I form a new LLC where we are co owners and each own 50% of the LLC, how would we be taxed in New Jersey or federally.She has access to the capital required to start investing into more real estate and I am the one who has done it before and knows more of the rehabbing side of the business.

I'm a New Jersey real estate investor with a few long term rentals.  

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Here are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus

My mom recently passed away and I’ve inherited her townhome in Central New Jersey. 

In regards to the states of Maryland (except pre-foreclosure), Delaware, Pennsylvania, and New Jersey?

In New Jersey we can't demand the tenant pays more than 1.5 months in advance.   

I do not know about how New Jersey handles it but as far as I know in California you pay taxes only on the net after expenses which include your mortgage payment and interest, insurance, maintenance etc.