To form an LLC or not

[Jim S.]

I own 2 duplexes and I am considering buying an 8 unit. What are the advantages to forming an LLC. I know if there is a judgment against the LLC that is separate from my personal things. But what else. Is filing an LLC myself ok or should I have my attorney take care of it. Any idea what the cost would be to have an attorney do it for me? Would I have one LLC per property or just one LLC for all properties? I won't take anyone's opinion as legal advise. Thanks for you input.

[Thomas S.]

"I know if there is a judgment against the LLC that is separate from my personal things."

First that is not necessarily the case, Lawyers pierce the vail regularly due to improperly set up screens.

Second, well I can't think of any other true advantages for small time investors.

Plenty of disadvantages though.