Hi all,

I'm an OOS investor looking in Birmingham. I'm currently debating between a few different legal structures and would love some advice from attorneys, CPAs, or other investors. Ideally I would like to have a Wyoming LLC with individual Alabama LLCs under it containing properties up to 500k in value in each, and then umbrella insurance on top of that.

The problem I'm running into is I reside in California which charges a minimum $800 a year franchise tax for every LLC you own even though they aren't in CA making this route more expensive than I would like.

Some options I'm debating between are:

1. Ditching the Wyoming LLC and doing 1 LLC in Alabama + umbrella insurance and opening a second when my portfolio hits 500k in the first one.

2. Owning under my name with just an umbrella policy (cheapest option but less protection and doesn't allow me to finance with DSCR)

3. Opening a series LLC which Alabama allows for + umbrella insurance (to my knowledge CA treats each series separate when it comes to the franchise tax so each would be subject to the $800 fees)

I'm open to any advice on these legal structures, or a new approach all together. Happy to learn from everyone here. Thanks in advance!