A few questions in regards to a LLC and a real estate business
I have read that in using a LLC, one can create personal protection against a real estate property in the case of lawsuit. Is this true in regards to a primary residence and should I be looking to purchase my first property under a LLC or under my own name?(My first property will hopefully be a duplex in which I live in one unit and rent the other)
My second question is in regards to starting a business for real estate. Is it possible to start a real estate business in my primary residence for the property I will be moving in to? I read the great tax benefits for deducting business expenses and am curious as to whether investing in a property and renting it could be considered a business. In so would it could be eligible for these deductions?
Thanks,
Chris