SDIRAs, LLC's, multiple states - and just beginning

[James Stewart]

If someone can provide sage advice to a novice, I would be grateful.

I live in Colorado, opened an SDIRA in Ohio, but would like to buy rental properties in Indiana. I've read its wise to use an LLC for rentals, liability issues. So my confusion is: a) do I need two LLCs, one in Co and one in In? b) Is one sufficient? c) If two are needed, how does the SDIRA LLC fund an Indiana LLC within all regulations?

Thank you!!

[Mark Updegraff]

I don't know about the SDIRA portion of your question. But as for the LLCs, yes, you want separate LLCs for each state. Otherwise you risk paying state taxes in both states.

Regards,
Mark