Beginner Question on LLCs for buy to Rent
Have a question regarding legal structures of setting up for Buy to Rent.
Acquired a three bedroom a few years back in NJ that I am looking to start renting out early next year. I am still paying off the mortgage so the property is in my name, and talking to the bank, they did not want me to transfer the property to an LLC while its still being payed off. But from what I have seen following youtube channels my liabilities are greatly reduced if its in an LLC. So I am not sure the best way to proceed.
There is a non-zero probability I might be able to pay-off the property by the end of next year, but I was hoping to use that capital to instead get a second property.
What is the best way to proceed so I start this journey on solid footing?