Should I form an LLC or Corporation?

[Andrea J.]

Hello BP! 

I've purchased my first investment; Buy and Hold single family rental. I've gotten it rented out and am ready to move on to another investment. Several friends and family members have really been pushing me to put my property in an LLC, but I haven't done enough research to determine if that's the right move. I was considering a Corporation, but am now leaning towards LLC. Any input? I should probably talk to an Accountant, but thought I would hit you all up for input as well. Any input/advice is much appreciated. If someone has already posted about a similar question let me know! Thank you all very much!

[Brian Simpson]

Based on your current info provided I say LLC. If you know you will grow get a series LLC. Holding properties in your own name screams mom and pop to me and an LLC says business professional. I'm not an attorney but I have investment properties in 5 states and there are a myriad of reasons why not the least of wich @ClintCoons mentioned above. Remember that it's just a matter of time before most investors/landlords will be sued.