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Updated over 4 years ago on . Most recent reply

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Terri Suggs
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Accounting questions investing in different states

Terri Suggs
Posted

Newbie here and I'm sure I'm overthinking things but I want to set things up properly from the start. 

First, what does everyone use? Quickbooks? I do plan on using an accountant, so maybe I don't really need QBs?

I live in one state but am making my first investment property purchase in the state where all my family resides.

I will be getting rental income, so do I need to start an LLC in that state for tax purposes? For every state I plan on having property in?

Thanks for your input!

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