LLC or Not LLC -- Mortgage for a third investment homes(?)

[Bryan Doan]

Hi,

I'm owning an investment home in Bothell, WA and in the process of signing first lease to a tenant for May. I also have another one that is currently listed for sale also in Bothell (bought "as is" and get it fixed up); however, I'm planning to take that house off market and then put it up for rent as well. My question is if there are any advantages/disadvantages of putting them into an LLC instead of our names (me and my wife).

Also, I'm interested in another fixer upper house close by as well. Since I have a mortgage on one of the houses mentioned above as well as a HELOC on my primary residence (I used this to pay cash for the fixer upper that is currently listed for sale), what would be the good way(s) to get another mortgage for the third investment homes? I was thinking of using the signed lease of one of the houses to get a mortgage for the new purchase but not sure if that will work. Any advice would be really appreciated!

BTW, I have a good credit score (used to be above 800 but now like 750 due to the HELOC & the mortgage for one of the houses). I'm working fulltime and earning in the range of 160K.

Thanks!

-Bryan