I'm an investor residing in FL with a multi-family property located in Upstate NY. Initially, I purchased the property in my name to secure better financing. However, I now intend to transfer it to an LLC. My concern revolves around potential increases in taxes or fees for owning an investment property in NY while residing in FL. My LLC is registered in Florida, so I'm uncertain if establishing a NY state LLC would be the best course of action.
Any advice you can offer would be greatly appreciated!