Structuing Business with Out of State Partner
I currently live in California and am going to be purchasing a rental property with a partner that lives in Minnesota. The property that we will be owning together will also be in Minnesota. We are both eager to jump in but are running into road blocks on how to structure this small partnership. We are both looking for asset protection and protection from one another in the event things go awry. We are new investors and this is our first purchase. We plan on purchasing many more properties in the near future but want to start right.
Does anyone have any experience structuring a LLC with out of state partners?