I have a few rental properties in Texas and am considering purchasing one in Ohio. I live in Nevada. Unfortunately, they are in my name and it’s time to restructure them into a proper legal form where my liability is minimized. My initial thought is to have a Nevada LLC, own Texas LLCs that own the properties individually. Also, the Nevada LLc would own the Ohio LLC. I considered the Texas Series LLC, but felt it has not been thoroughly tested. Also, I assumed that I would have to create LLc’s in the state where the properties are located. Presumably, a Nevada LLc, would have to register to do business in another state which costs the same amount as having a LLC in the state. Is this true?
Any analysis and suggestions would be welcome.
thanks in advance