first time creating an LLC would like advice
Hi everyone,
I own a rental property and would like to create an LLC. This is my first time doing this and would appreciate your input on two questions I have.
My first question, in what state should I create my LLC? My rental property is in Oregon and I'm in Florida. If I create an LLC in Oregon, I will have to hire a registered agent (which means using Legal Zoom or something similar). However, if I open one in Florida, I can be my own registered agent, but I'm wondering if there are any drawbacks to being a "foreign LLC," when my rental is in another state. I don't plan on buying any more rentals in Oregon, but I may buy a rental in Florida later on, so would it make more sense to create an LLC in Florida? Is there a right/wrong answer to this?
My second question is regarding how to set up an LLC. This being my first time, I think it's best for me to have some guidance. Services like Legal Zoom have piqued my attention, but I've read mixed reviews. Some people do not recommend Legal Zoom for creating an LLC and recommend you to do it yourself instead. Their main argument is that Legal Zoom provides little to no customer support and that their fees are high. Others are saying that although their fees are high, they are still cheaper than going to a lawyer.
In your opinion, would going with Legal Zoom be a "rookie mistake?" Thank you in advance for your input/opinions.