LLC question for the attorneys in the BP community

[John D.]

Hi all!

I have read several of the "should I start an LLC" forum posts for individuals getting started in the REI investing arena and I wanted to see if I could get insight from the pros in the community regarding my scenario.

I am in PA and I will be purchasing my first investment property soon. I have been looking at multifamily, SFR, REO, as well as sheriff sale deals. I will probably be doing both flipping and rentals and intend to purchase 2 properties this year and hopefully 5 next year. In the posts I have read, a few of them gave the opinion that its not necessary to form an LLC or an S-Corp and just to keep the properties in your personal name. Just be sure you have a good insurance policy. I also intend to finance the majority of the properties I purchase and have heard that having properties in the name of an LLC or S-Corp could complicate matters.

I want to be sure to protect my personal assets.  I also want to make sure I am maximizing all my tax benefits.  Can I have my cake and eat it too?

Thanks for all opinions!!