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Updated over 2 years ago, 06/27/2022
Should I transfer property into LLC name?
And if so, how hard is that to do?
Rental properties currently in personal name.
There are a lot of factors that go into that decision; Your personal risk tolerance, will it be a single or multi member LLC, who manages the property, what is the risk profile of the property and current tenant, tax consequences, cost, etc.
The actual transfer is logistically pretty simple and likely can be structured as no tax consequence for the transfer.
Keep in mind there are both legal and tax implications of this and you should get professional advice.
Quote from @Al Wilson:
Mine is subject to its current mortgage. Is that ideal to transfer into llc, I would assume no since mortgage can be called? So in that case keep it in personal, or have my llc buy the property?