BRRR Refi Challenges

[Troy J Szczudlak]

BP Community,

I live in the Birmingham AL area and I'm in the process of inheriting a home that is free and clear.  I have made the decision to hold the property and use as my stepping stone in to real estate investing and utilize as my first rental property.  Because there is a considerable amount of equity available I would like to refinance once I have tenants established and use the cash to then apply towards purchase of my next buy and hold property.

However the couple financial institutions that I spoke with and currently have relationships tell me that the home will need to be in my name and not an LLC. I want to place this and any additional properties in LLC's to separate and protect the assets I have currently, but by doing so will the LLC hinder my ability to access cash from refi or have I just simply spoken with the wrong lenders?

I've purchased and just started reading David Greene's book on BRRR, so maybe I will answer my own question as I read further, but thought I would ask the BP Community for their insight, guidance or recommendations as how to proceed. I do have an appointment later this coming week to sit down with my CPA and and also a Real Estate attorney, but any feedback I could receive beforehand would be appreciated.

Thank you