Activities that would cause the protection of an LLC to be pierced may be different from state to state, so the best type of attorney to consult with is a civil litigation attorney in your state who's already litigated these issues.  2) LLCs offer varying degrees of protection depending on what state they're from and whether they're single member / multi-member.  3) An often-overlooked benefit of an LLC, or any business entity for that matter, is the ability to have the business entity file for bankruptcy. 

Originally posted by @Michael Beeman:This is a brief overview of how I went from a family business employee (with 7 children), only earning 60k/yr, filing bankruptcy in early 2016, to someone who will be completely financially free 18 months after I purchased my 1st property May 15 2017.I began my Real Estate Study in late 2015, I mostly read books.

On time for appointmentBROUGHT NECESSARY ITEMS: Identification, application information, references, application fee, holding deposit...Filled out application completely and truthfullyAble to verify all of the necessary informationAble to pay full amount of rent and depositSufficient monthly income of 3 times the rental amountVerifiable income and employmentStable income or employment for a minimum of _____ monthsFinancial obligation of no more than _____% of incomeSatisfactory credit history (no bankruptcy)Provided credit referencesAt current address for a minimum of ______monthsGave proper notice to current landlordGave proper notice to previous landlordNo prior evictionsNo problems with previous landlordsDeposit fully returned (none withheld for damages)No complaints or police reports regarding disturbing the peace, etc.No significant violations of a previous rental agreementNo pets or is willing to sign a pet agreement and meets additional pet criteriaNon-smokersHas a Delinquency Rate less than 45% based on Credit Score Analysis performed by Tenant Background Search.Has a credit grade of B or credit score of 620 or higher per Tenant Background Search.

He talks at length about being caught up with a client he was doing GC work for that owed him as much as a million before filing bankruptcy and he was wholesaling to pay his workers on his clients project, with the promise that they would pay him back at the end.

And to a notion of "The Customer Is Always Right" and placating to such, please open a business and do exactly that and let us know how it works at your first bankruptcy.

This includes your money in a deposit account or bond.Specifically, Title II is aimed at “ensuring that payout to claimants is at least as much as the claimants would have received under bankruptcy liquidation.” 

My credit is garbage (had to do bankruptcy last year) and I only have access to $10K (assuming I can roll my 401k into an SDIRA.

Quote from @Cody Roberts: Bankruptcies have surged by 17%, if the trend continues, it could mean recession.

Filed bankruptcy in the last 7 years?

Terrible return on assets.Return on Assets0.85%Return on Equity9.39%any banks in US should be in bankruptcy right now if mark-to-market accounting is used as their low-interest-rate bond is crashing in value ...... but this is usa lol ;-)