LLC, Partnership, or Sole ownership

[Joseph Duff]

Hello All:

My wife and I own 4 SFH's and 1 Multi Unit property in Philadelphia and we have 2 questions.

All but one are soley in my wife's name after our latest rounds of refi's.  

Presently, we are looking to put in an offer of for 3 multi-families in a new market with the intention of putting them in an LLC as a way to protect our assets.  However, after a discussion with our real estate agent, we are rethinking the advantages of the LLC and looking for more information on just creating a real estate company to hold the properties.

Has anyone had any experience with this?

Question 2

We are interested in 3 multi families in the same market by the same owner, but seperate deeds. We have excellent credit, ample cash for down-payment, but we would like to reduce our one-time costs and purchase expenses.

Is there anyone with experience with umbrella loans?

Is there any other creative strategies anyone has leveraged in a scenario like this?