Hi, I just bought my first rental property, I am looking to acquire more single and or multi family rentals as soon as possible. I am wondering if I should hold these rentals in a corporation/LLC or in my personal name? My main concern is liability/being sued, i've been lead to believe incorporating will reduce my personal liability.
Insurance is and will be your first line of defence regardless of whether it is in a LLC or not. LLCs can and will be pierced by smart lawyers.
Your future investment plans will be easier (financing) and less expensive if you do not use a LLC.
Consensus is that adiquite insurance is sufficient protection but LLC provides additional physiological protection for about 50% of investors.
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