Best LLC formation strategy for Tennessee

[Trevor Marvin]

Hey all,

I'm working with two partners to complete a BRRRR deal in the surrounding Nashville submarkets. Two of us are located out of state and one is located in Tennessee. We were curious if somebody could provide insight as to if it would be optimal to form a Tennessee LLC or go out state (FL, WY, DE, etc.). If we were to form an out of state LLC, does anyone know what the drawbacks might be for purchasing real estate within Tennessee? Thank you in advance!