Open LLC for first rental property?

[Tyler Neison]

I just put my current house (call it 18118) up for rent and am receiving applications from prospective tenants. I have a mortgage on the house in my personal name as it is currently my personal residence. I am moving out of it into a new house that will be my primary. I am considering creating an LLC and then a opening an operating and reserve/deposit bank account for 18118. Primarily so the lease agreement and payments to and from me looks professional coming to/from an LLC account and all expenses and income are properly isolated to this property. Maybe down the road I can transfer the property deed into the LLC, but I don't want to risk having it called and having to refinance with a high rate. Has anybody else done this and what are the disadvantages, if any?