Almost ready to buy my first investment property!

[Nick R.]

My plan is to use the buy, fix, and hold strategy. I've networked with some wholesalers, contractors, and lenders and have been approved for financing. I'm seeking some unbiased advice before I get my first property.

Here are my questions:

1. Would you recommend using an LLC for rentals, why or why not?

2. In your opinion, what are the best tax advantages of owning rentals?

3. I've heard some people say banks will only allow you to have "X" amount of rental properties if you want to lend from them, is this generally true? Has this been your experience?