Best entity for long term rental holds
I am buying a rental in an out of state market in a couple weeks. I was curious as to everyone's thoughts on entity. I do not plan to take any money out of the rental initially (the first 3-5 years), and don't plan on ever selling the rental (of course, you never know - but that is the plan).
Do I start a company in the state where I am buying? Use my fix and flip company in my home state? Form a LLC, S Corp, or C Corp? The new company will hold several rentals - once I have 8-10 properties in the new company, I will form another company to do the same.
Thank you for the feedback!