Using Current Home as a Rental

[Amy Atkinson]

Hello, looking for some guidance.  I am looking to move to a different home, and would like to keep my current home as a rental.  It has a great 3.5% mortgage, about $70K of equity, and it should cash flow a modest $200-300 a month at this point.

My question is - do I just keep the house in my name and run the rental under my name? I always hear that due to liability and taxes etc, investment properties should go into an LLC.

What is the best way to turn my existing home into a rental?

Thanks in advance!