The classic LLC question - but with a twist
We have all seen and read opinions on what people just starting in real estate investing should do in terms of creating a LLC to own and operate each property. Most of what I have read speaks to the opinions for young investors who are getting started. A lot of these seem to lean toward not setting one up, being the person is just getting started and wouldn't have much at risk either way.
However, what I have not seen a lot on are opinions on what would work best for new investors who are further along in life. For example, I am 15+ years into a good career, but still looking for ways to invest. Being married with kids my #1 goal is to provide and protect my family. Based on this, since I have started trying to learn, I have always leaned toward the LLC being the better way to go. The up front cost, if for nothing more than peace of mind, seems well worth it to me. I'm curious what others feel, or what others in similar situations have done.
Also, would you typically set up a separate entity for each property owned? And if so, would each of those fall under a single, higher company, or just exist as individual entities?
The goal is to start investing in the Las Vegas/Henderson area over the next year so if anyone has any advice specific to that area I would love to talk in more detail.
Thank you to all who take the time to read and provide any thoughts and insight you may have.