Real Estate Investor Starting Out - Tips/Advice

[Alexander Warren Leitch]

Hello,

I am looking to start out (Oklahoma) with buying my first property within the next year and doing all the research and reading I can to prepare. A few things I want to see where people stand about:

• Current thought would be form Single Entity LLC and use that as the medium to purchase property but I have heard varying ideas about the LLC's viability to make such purchases. I am not looking to get into a balloon payment.
• Can I make the purchase using my own financials/credit etc and transfer at a later date?
• I already own two homes with one already being rented and one I would like to list for rent within 12 months as well. If I form an LLC, should I transfer to the LLC or wait for a larger portfolio and why?
• With and LLC can I transfer funds from the LLC to my personal account without considering it "payroll" and subject to tax since it is considered a disregarded entity?

I am sure there are other questions I should ask but this is where I stand so far. Thank you in advance.