LLC with commercial mortgage VS personal regular mortgage
I just bought REO property as my own residence and renovated it inside out(which is almost done).
Now I am planning on my next investment but I have trouble deciding path for finance.
On one end I can get an HELOC on my primary residence and use my savings and HELOC(if needed) as a down payment for next property and buy it under my personal name with 4.75%ish interest rate and 30 year term. (and FYI I know many lenders will not do HELOC this soon , but my local bank that I use is willing to work with me on that). Which also leaves me from using LLC protection but many lenders also give 85% LTV which is a nice plus and they are easier to get.
On other side, I can create an LLC and use my savings and HELOC (if needed) as my capital and fund deal for next investment property. My bank's commerical department does 75% LTV and they also do renovation part as 75%. But of course closing cost are higher and they offer 5 year 5% fix rate and 15 year variable, which I believe is standard. In this way I can use LLC protection but interest and terms are not as favorable as buying under my personal name. Plus 20 year term also reduces cash flow which is more important for me then little faster payment with small term.
Should I go any of above way for reasons I mentioned above or something that I miss ? Is there any other way that deal can be structured that I don't know about?
Thank you all for your time and effort.