Nevada Limited Partnership
Can anyone help with the steps to creating a Family Limited Partnership?
I live in CA.
I own some real estate out of state.
I would like to open an FLP to transfer my real estate into.
Can you help with the steps?
I think I would like to create Nevada FLPs, but then I need a Registered Agent in Nevada, right? Once I create the FLPs, how do I transfer my real estate and mortgages into the FLP? How does it work at tax time?
Any help or resources you can offer is greatly appreciated. I tried to google for answers and got seriously overwhelmed with sites that charge a lot of money for a lot of info that seems irrelevant.
Thanks 
For setting up the Family Limited Partnership, you might want to check out the Secretary of State in both states.
Also, you can check out the IRS (www.irs.gov) for answers to your tax questions!