Purchasing First Property in Upstate NY

[Jeremy D.]

Hello,

I am going to be purchasing my first rental property shortly and am very excited to get started but want to set everything up correctly right from the start. I have a few properties in my sights. There is some debate as to what is the best way to purchase the property to protect your personal assets. Should I form an LLC or take out a landlord policy from an insurance company that could give me the coverage I need. Also is it worth the money to consult a CPA and Real Estate Attorney before I begin? Any advice on how to begin with all of this and if going LLC is the way to go any advice based on experience setting one of those up would be appreciated as well.

Thank you