Our trust attorney told us to meet with a business attorney as well as a tax professional in order to set up an LLC to put the properties in so we can protect our personal assets if need be.Our trust attorney is in CA, where FIL lived, however we live in AZ.  

You have to decide whether you will be transferring all properties under one LLC or each property under a different LLC (by having each under a different LLC you will be protecting them from getting affected by something happening to another property, i.e., a lawsuit).LLCs are pass-through entities, therefore they do not get taxed as a corporation.

@Derek Chiasson  sorry to say but dead give away to a scam.. there Is no such thing as a 1% insurance fee.You must have hazard insurance in place prior to closing... but if they are saying you buying some sort of insurance to protect the lender from default.. then your being scammed.A common one is to buy some phony policy from a company in Thailand they usually try to get 3 to 5k out of their victims for this one.Send me a PM I will help you through it..

Tenants with tenant-based assistance such as Section 8 vouchers are still covered by the eviction protection of the Rent Ordinance, and sometimes covered by the rent control of the Rent Ordinance.

What types of insurance should a professional large pm company carry to protect MY SINGLE FAMILY HOME due to their neglect, poor management policies?

SHARE BUTTONBefore I receive the funds, how can I protect myself from taxes?

Looking at a property,Listing says 2 family, C of O from the '20s says 1 family duplex.Owner seems to "not know"How can I use this to my advantage / how can I protect myself in situations like these?

Protect each asset against itself legally (Individual LLCs?)

The primary reason people tell me is that I will be able to protect my assets, but if that is my only asset as of this moment then does it still make any sense?

Sounds funny but some people are protective of their personal space.