Confused about LLC's

[Keith W.]

The more I research the concept of forming an LLC, the more confused I get.

For the gist of my understanding, proper insurance should cover you for liabilities. But on the other hand, an LLC formed on a specific property limits your liability to only that property. In other words, without the LLC, and you own multiple properties, then they come into play for the lawyers to go after. I think this is my biggest concern with not having each property covered by its own LLC. Please opine.

My other concern is whether I should set up my business as a whole in an LLC. My thinking is that I will set up the business as its own entity establishing business credit.

If I were to go into a joint venture or short-term partnership, should I go in as an LLC?