I believe there are de minimis rules around whether it requires registration and other compliance stuff.As far as a member-managed LLC with multiple members, the operating agreement details the mechanics of decision making.

I own the majority (~54%).We only have 1 tenant now.We are doing arenovation of the existing duplex and building an ADU complex, Once finished,we will have around ~5,000 sq ft of living space across 2 2 bed 2 bath ~1,000sq ft ADUs, 1 ~2,000 sq ft 3 bed 3.5 bath unit in the existing duplex, and 1~1,000 sq ft 2 bed 1 bath unit in the existing duplex.This will be a 4unit (s 4 tenant groups) property butunits will likely be split so that is not equivalent to only 4 individuals.There will be a total of 9 bedrooms and 8.5 bathrooms.Given the size ofthis property once completed and the amount of individuals potentially residingthere, AND given the multiple ownership dynamic, does it make sense to havethis in an LLC once it is completed or is that overkill given we only have theone property?

I'm probably overthinking this, but here's an LLC formation question.

Quote from @Dhirendra Sharma: Should rental property be bought in personal name OR in an LLC OR some other entity (such as land trust) ? 

I know probably 100+ multifamily operators and almost all use in-state LLCs (in whichever state they have the property.)The only story I ever heard of someone benefiting from an out-of-state LLC was a friend who created and LLC in Alaska. 

If you're in a community property state, a single-member LLC owned jointly by spouses can be treated as a disregarded entity, simplifying taxes.

I am an advocate for owning investment real estate in an LLC but keep it simple.

I would not wait on forming the LLC.

The plaintiffs settled for one million, the insurance money.I did put my business in an LLC, but got the LLC and myself insured for $3 million.

Before I went ahead of spend money on creating an LLC wanted to know if Q1.