Buying STR - under existing LLC or new

[Brock Roorda]

I am under contract ($575k) to buy a lakefront condo that allows STR and will be paying cash for the purchase. I thought I'd mention since it's a condo there is an HOA which would assume a large portion of the risk for shared amenities such as the pool/hot tub/grill/beach area/etc.

I have an existing LLC that owns (2) LTR and also a long term hold that's a large piece of acreage. These existing assets are free and clear of debts and worth around $1.4M.

With owning other non real estate businesses, I really don’t love the idea of another business but would love to hear thoughts on at what point do I need to separate assets versus just buy more insurance.