Should I create an LLC for a Property Management Company?
I'm soon to be a landlord for the second time. The first was terrifying as I was leaving the state and trusting my home to a "professional" Property Manager. This time I will be doing it myself.
I'm wondering if anyone has created an LLC for themselves for receiving rental income. Do you recommend it? Is there any reason not to? Is it easy? How did you set it up? Does it protect you? Any experience advice is greatly appreciated!
Long term, I expect to have many units and I'd like for checks to NOT be written directly to me and I want to keep rental income totally separate from my 9-5 income. I will be creating a separate bank account to have mortgages withdrawn from and rental income deposited to. What else should I be considering?
Thanks in advance!