LLC for my Vacation Rental

[Luke Carl]

So I think it's best I start an LLC for my vacation rental. It's doing much better than expected and I want to protect myself.

I have no idea how this works. In fact I heard on a podcast where a guy started an LLC after he signed the paperwork and the deed was transferred in his personal name and he formed an LLC later and he got screwed. Maybe I didn't hear that correctly?

My mortgage is currently being sold to who knows what bank. 

Please advice me on how this works. 

Thanks!