Using a business or LLC to buy properties?

[William Allen]

I'm interested to know how most of you purchase your SF or MF homes used as rentals. Are you buying them under one business name of a real estate company you set up? Separate LLC's? Single LLC? I have 3 properties now, 2 in Florida and 1 in MD but am continuing to add to my portfolio in the form of buy and hold rentals. All 3 I own now I have lived in and are in my name. However, as I go forward I will be using cash and investment property loans to purchase other rentals. I feel like I should be buying these under a business. What are the advantages and disadvantages of doing so? I currently hold umbrella insurance for myself in the event I have a liability claim in any of the houses I currently own to protect my personal assets. Any information will help, thanks!