Rental operations under an entity (LLC, etc)
Would you share your knowledge and examples of operating rental properties under a business entity (LLC), compared to owning them personally? Please address within the following topics and any others you feel appropriate.
1. Risk mitigation (other topics than transferring individual risk from you personally to the entity)
2. Costs (tax fees, setup fees, recurring fees etc)
3. Sequence of events with establishing the business and purchasing properties (what would be your approach in hindsight?) Ex. establish the business first, then purchase and rent properties or vise versa when starting out.
4. The business can pay you a salary and establish a 401k?