Rental Property In My Name or LLC

[justin0419]

Yes.  Most, if not all, states have a LLC origination fee as well as an annual fee.  It can be pretty reasonable to almost 1k per year for registration.  You can search for a state by state list online...and I've posted one on here before too.  Filing the Articles of Organization is easy and you only need to fill in the blanks for that.  You need a lawyer for the Operating Agreement.  The state doesn't care about your OA, but you will if you ever get sued...

[jazzalbart]

The main advantages to an LLC are: limited liability, which means that each shareholder or member is liable only up to the amount he invests; pass-through taxation. And it will obviously effect on your rental property. And it does have disadvantages including restrictive transfer of ownership. An LLC is often a good starting point for many small businesses. However, if a business owner plans to receive outside funding via venture capital or angel investors, other options should be considered as well.

[mcwagner]

limited liability, which means that each shareholder or member is liable only up to the amount he invests

Not true.  An LLC will not magically insulate you from all liability. 

You are always personally responsible for your personal actions when personally managing property.

Owning property with a mortgage in an LLC will probably also require a personal guarantee, which increases your liability far beyond what you've invested.

Just to name the two big ones...