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Do you use LLC's for your rentals? pros and cons?
Do you recommend forming and LLC for each property separately? Is it worth the cost? Also, am I correct if an LLC is registered in a state that has no state income tax I won't have to pay income tax on the rental income even if I reside in a state that has state income tax?
I was also read something about it's easier to pass it on to the kids. Haven't researched it in depth yet.
What are the pros and cons?