LLC questions for newbie

[John Rippy]

Hi, all. I just bought my first owner/occupied duplex at the end of March, renovated it, and signed a lease for the lower unit while my partner and I live in the top unit. As of now I don't have an LLC, but am wondering if I should get one. Here are my thoughts.

1. I want to protect any other assets I have which mainly consist of retirement accounts.

2. I read there are huge tax incentives to have a real estate LLC.

3. Can I take this first property I have and transfer it to an LLC or is it to late for that? Is it even worth it?

Thanks for taking time to help me out.

[John Rippy]

@Moises R Cosme

Thank you!