It's mostly for liability protection and formal business structure.From a tax perspective, a single-member LLC is a disregarded entity and treated the same as personal ownership.Since many lenders restrict transferring title to an LLC after closing (it can trigger the “due on sale” clause), keep it in your name and just report income/expenses on Schedule E.Strategy TipIf you want liability protection, consider:Creating an LLC that leases the property from you via a triple net lease structure (have a CPA help with this).Getting umbrella insurance or a high-limit landlord policy to help protect personal assets.This post does not create a CPA-Client relationship.

Some cool benefits include their Lease Indiciation Tool (helps predict the likelihood of a tenant renewing the lease giving you the chance to renew early and/or increase monthly rent if you know someone wants to renew), Expense Tracking, Tenant Communication (via their app), Maintenance Requests, Tenant Payments, and more.

Sage wisdom from gurus always suggests having an LLC, but no one ever tells the negatives of using an llc 1. we often acquire properties via foreclosure auctions which come occupied.. when we go to court for eviction, you can indicate that you "intend" on living there and the court will tend to be less generous to letting the occupants stay longer.

Long term via a sandwich lease; short term via Cooperative Assignments. 

via=anjan-chakravarthy1111%2Fapp&via...Only if you subscribe for the pro plan through my referral link I will give you the code for 20% discount for your very first successful subscription

If you decide to close via an assignment, you may need an assignment contract.

Shoot me the details via PM and I'm happy to take a look at it, thanks!

I suggest acquiring an "Assignment Contract" for the end buyer (if you choose close via assignment.)

KristaGood to see you getting into tax FC work.First - need to make sure you are aware of the 2 year right of redemption for homestead property and the inability to sell via a title insured closing.Most will bring an assortment of cashier's checks to be able to bid and have dollars at the foreclosure. 

@Suzy FarmanHere’s what’s worked for me:Leverage Airbnb/VRBO: Many insurance companies use these platforms via third-party services.