Logistics of purchasing 1st property

[Jacqueline Brown]

Hi all, I'm currently reading up and in the process of networking and finding my first investment property. I'm starting with SFRs, but wanted to ask what your recommendations are on the order of things.

I've read both sides of the LLC issue as well as on insurance policies, but here's my question. Let's suppose I go with an LLC; would it already have to exist before I purchase a property? Or, can I buy a property and later put it under an LLC should I decide to go that route? If I can later place the property under an LLC, are there fees for doing so?

In addition, I'm going to be using the bank's leverage for financing. How does seeking a loan for an investment property differ from purchasing an owner-occupied property? I understand my questions may be quite primitive, but I'd like feedback from the know-hows. Thanks guys!