Proper LLC Structure
I've seen some posts on the LLC topic (especially the Wyoming LLC trend) and of course ended up on the fence. My scenario is I have 800+ credit, great job history, and a rental with $300K in equity and cashflow of $900 after expenses. I am interested in the potential of LLCs because of the business credit I can build which could potentially accelerate my purchasing potential. The way I see it, I have the following choices:
Option 1 - Get a Wyoming LLC for anonymity, which holds the LLC the owns my rental
Option 2 - Get an LLC in my home state that owns the LLC in whatever state I buy a rental in
Option 3 - Get an LLC only in the state that I buy a rental
Option 4 - Don't get any LLCs because I don't have enough property to need it and get an umbrella policy
I am officially stuck in the mud trying to figure this out.