LLC structure for multi state real estate investment
If you hold a rental property in its own legal entity, that entity has to be registered in the state where this property is located. The commonly acceptable approach for holding rental properties is to organize each one in its own domestic LLC.
In your case you could use your OR LLC as the holding company for your other LLCs - those registered in Arizona for the Arizona-based properties (one LLC per property), and others in Texas for the Texas-based properties. This way you can use the Oregon LLC to deduct business expenses related to you managing the properties, while maintaining proper legal structure for holding each of the properties in limited liability entity in their respective states.