Need Advice on Legal Protection

General Real Estate Investing
1

Dear RE Investors, Could you please advice me on my current situation.

I currently own a house and planning to buy another house in another school district in 6 months and convert my existing house into a rental property. I need to stay in my current house till end of August as I received the tax credit during the 2009 tax credit scheme.

Now I came across a good deal in the area that I am trying to relocate to after August.
If I get that deal I will have to rent that new house till August before I move in.

Now which property should I put under an LLC. The new second house will be a rental till August.

Please post what would be your approach.

Thanks
Pawan

2

An LLC provides no tax benefit and no liability protection for a rental property you will be managing yourself.

Why bother with the cost and hassle of an LLC? Just make sure you have adequate hazard and liability insurance.

3

what Dave said

4

have you asked an attorney or any person who has vast knowledge in this matter? because honestly, it would be a smart move to ask them. Seek for a professional advice,