Should husband & wife investors form an LLC?

[Lenny B.]

Hello, my wife and I are beginner RE investor, we just bought our first duplex in Sacramento this year (with existing tenants). We are planning to buy another duplex this year, and maybe more properties in the years to come. We are filing taxes jointly, both have W2 jobs and I have an S-corp and my wife has a sole proprietorship store boutique. I came across articles that suggest doing RE investments under LLC to limit the personal exposure. So, I have a few questions:

- Given our plans and circumstances, does it makes sense to form an LLC for RE investments?

- Does it make sense to transfer our existing duplex into LLC (not sure if Wells Fargo, our lender, even allows it)

- Should we consider buying our next duplex under LLC?

Any feedback is much appreciated. Thank you.