Setting up a SDIRA Real Estate LLC?

[Russ Bramlett]

I just sold most of my stock in one of my SDIRA accounts and purchased 2 condos that I plan to rent out. One condo is currently vacant and the other is occupied. I have an LLC set up for my other privately held properties, but I haven't set up an LLC for my IRA held properties.

What are the advantages/disadvantages of setting up an IRA custodian LLC and transferring the IRA properties over? And how the heck do you set it all up (the IRA LLC)??? Quit claims?

Lastly, what are the best insurance policies for covering IRA owned properties? General commercial or a landlord policy (I've read that landlord policies don't properly cover IRA properties)

Thanks in advance for the advice!