Whether to put single family rental property in an LLC.
I have a single family property under contract. It is intended as a long term rental. I am buying with cash, but want to take out a mortgage after closing in order to pull cash back out for other investments. We would like to take title in an existing LLC that my wife and I own. I have heard that it may be more difficult to get favorable financing if the property is held by an LLC. Is that correct and are there other considerations of which we should be aware?