Managing rental property under an LLC

[Lashan Wanigatunga]

Hi Folks,

I have an accepted offer for a rental property that I plan to purchase. I've read bigger pockets discussion threads and other articles on the pros and cons of using an LLC to manage rental properties. So for the liability protection, privacy, and easy keeping business expenses/income seperate I have determined an LLC is right for my situation.

So here's my questions:

From a financing perspective the best rates I've gotten is if I get the mortgage personally under my name (which I am fine with doing). This means that the property will also be under my name, so does it still make sense to use the LLC in this scenarios to manage income and expenses and tax reporting. Understand that that liability protection may not apply.

If I go ahead and purchase the property under my name, any tips on transferring the title to the LLC? My understanding is the banks can frown upon this and there may be significant fees involved.

I do have a lender that will allow me to borrow under an LLC. Waiting for a quote, but it will slightly higher. Does it make sense to eat the higher cost/rate and go this route (will update this thread once I know the exact numbers)?

New to the game, so please take it easy on me :)