Formation of a new LLC - questions
With 3 other friends, I am looking to start an LLC to ultimately start doing some investments in rental properties. I have some questions with regards to this:
- Does the LLC need to have its own separate office address, or can the address of the registered agent be used for the same? I ask because the LLC formation form has both of them listed separately with no clear instructions.
- When does an operating agreement need to be drawn up? It does not seem to be a requirement to form the LLC.
- Is it strongly advised to have a lawyer on board for LLC formation?
- Is an LLC required to have designated officers and/or managers?
- Is there any such thing as LLC insurance? And if there is, what does it cover?