Florida LLC Flipping in Illinois
I am an investor in FL with a FL LLC. I am looking into opportunities for flipping houses in IL. Maybe someone has a similar experience or can recommend an IL attorney I can talk to and get an answer to the following:
Do I need to qualify my Florida LLC as a Foreign Business in IL to buy-rehab-sell property? I have come across a list of exempt activities that do not constitute transacting business in the state and "Owning real estate" was on that list. I am under the assumption that since I am making a profit (hopefully) on the buying and selling of real estate, that this exemption does not apply. Thanks.