when to open an LLC ?

[Issay Gonzalez]

I have 1 rental in Fl, and I am planning to buy 1-2 in 2021, so my question is at what point should I open an LLC? Also If I open an LLC I will no longer be eligible for 30 years fixed rates and lower rates correct? who is the best person to ask which type of LLC to open? CPA ? lawyer ?

Should I ask these questions to a CPA or a lawyer? 

Thanks, 

Issay

[Basit Siddiqi]

@Raymond J. Rodrigues

There is some language from Fannie Mae in the following passage of D1-4.1-02

a limited liability company (LLC), provided that

• the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and
• the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).
  
  The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.
  

https://servicing-guide.fannie...

It doesn't seem like you can close in an LLC, but you can possibly transfer it over immediately after the close.