Ask a lawyer ANY question and the answer will always result in a recommendation which will require some legal service (and their fees).Don't get paranoid on "Asset Protection" - - just forming the legal entity and getting title in that name does not inhibit lawsuits nor insure you're immune from losses.Then there's the practicality of getting a loan in the entity name - - not trivial. 

This is just normal business practice. 

Some people like to steer clear of that practice because of the potential damage it can do to relationships.

if yes, please document with practical guidance steps and needed documents.Thanks.

At least in my part of the country this is a common practice.

For instance, an umbrella insurance policy, supplies, PO box rental expenses, travel expenses, home office expenses.What's the best practice here?

My husband and I are relocating from San Antonio to Dallas.

@Jay Hinrichs hat off to you, I'll have a couple Tessa's in a couple years... solar powered roofs and flying in the skies if my predictions are right.And yeah Account Closed it's not really practical but it was a possible strategy and a way you could theoretical fund multi million dollar projects with a thousand bucks. 

BPers - I am borrowing money from a private lender soon and seek best practices around picking a loan servicer (lender doesn't have one). 

I work in New York city, and need to buy within a practical commute distance from the city.