LLC on owner-occupied rental property

[Nicole Heasley Beitenman]

Hello! I have 2 questions regarding LLC's, and I can't find the answer on Google or BP.

1) I rent the spare bedrooms out of my personal residence. For this reason, is it advantageous to put my house into an LLC? Do the pros/cons differ since I run a business out of my home?

2) If I were to place my home into an LLC, would that debt still factor into my DTI ratio?

TIA!

[Michael Plaks]

@Nicole Heasley Beitenman

No tax advantage for an LLC in your case.

There could be some legal reason, but I doubt so. The whole premise of legal protection is to separate assets, but here your assets are one indivisible property. This one is for attorneys, and I'm not one.