Creating a Partnership for a Large Multi-Unit Complex

[bkelly]

What is the name of your state (only U.S. law)? Mult-state.

I am looking to go into a partnership with three other people in order to purchase a large multi-unit rental property. The property is located in North Carolina however many of the parties live out of state. My question is whether it is beneficial to incorporate this partnership in the state and location of the real estate investment OR if there is benefit to incorporating in Delaware or another state.

Thank you!

 

[tranquility]

There are costs and benefits to each. Most of our clients seem to come down on LLC in the state of the property.

 

[HomeGuru]

There are costs and benefits to each. Most of our clients seem to come down on LLC in the state of the property.

**A: yes, I agree. OP, consult with a real estate and tax attorney.