Cash Out Refi on a MF in LLC Help

[Phil Falcini]

I own a 4plex outright that was purchased for cash and subsequently deeded into an LLC on advisement from my attorney. Through normal conversations with other attorney friends, I am not sure I need this property in an LLC because I have plenty of insurance with an umbrella policy. I am weighing those risks and understand there are pros and cons to both.

I am under contract for another 4plex and would like to cash out refi my first 4plex to use the money for the second 4plex but also get better financing terms by QCDing the first 4plex back to my name and for financing. Can anyone punch a hole in this idea besides the risk associated properties not being in an LLC?

Thanks in advance!