LLC or not - specific situation
I've been reading relentlessly on here about this topic, but I'm hoping someone can give me some advice before consulting an attorney. This would be our first rental.
Purchasing a rental property with someone who has decent net worth. We were looking in to a LLC for personal asset protecting for them. They don't want to have the income pass to them through the LLC so can we create a single member LLC and have both listed on the mortgage?
Are we better off putting the title in my name with both on the mortgage and have a good umbrella policy for myself?
Would it matter either way if both names are on the mortgage?