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Moderator
    04/23/08 at 06:12 PM
 Reply with quote#1

I have two rental properties in Detroit, Michigan (low income area). Which state: Nevada, Wyoming, or Delaware would you recommend to incorporate the properties.

attorney
    04/23/08 at 06:16 PM
 Reply with quote#2

If you have little equity in the properties I would recommend simply holding them in a Michigan LLC. This will provide you with individual asset protection if the LLCs are ever sued. If you have a good amount of equity in the properties than I would recommend holding them in a Wyoming LLC qualified to do business in Michigan. The Wyoming LLC will better protect your equity from any personal liabilities that you may incur.
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