I just went to my first bigger pockets meet ups! The people there were not into short-term rentals/vacation rentals but into the fix and flip stuff. So, they all said I should get a LLC...in MONTANA! Apparently there is a benefit to having an LLC in Montana vs Maryland where I live. Anyone able to tell me why? So another question in, is this legit advice or is it unethical? THey were saying you pay a little money a month to have mail sent there and then forwarded to your regular address. Do people do this? It sounds sketchy to me..but maybe its all good? Please tell me what you think of this AND please tell me if doing an LLC is even a good idea as an investor in the short term rental business. Im thinking of buying a second vacation home in the same area..does this change the need for an LLC? Does an LLC take away the tax benefits at all? Im just starting this business and really just trying to wrap my head around it all. Thanks for any help and thoughts on all these matters!
Question is will u be having a loan, if you do it might be a issue. For florida we will need a hotel license and if we register our STR under us it shows our house address. If you do a LLC you can put in your register agent address so your renters won't know where you live.
This is a question for a different forum. But do yourself a favor and google “business attorney” and give one a call. If you’re financing you’ll likely find it’s not worth it to have an LLC but ask a lawyer some questions.