Buying first multi. To LLC or not? That is the question.

[Brad Willman]

Hello all,

So we have a few sfh rental properties and have kept them in our personal names and carried extra liability (umbrella) insurance for protection. But now we are buying our first 4-plex and are considering putting it in an llc. I know this topic can be very opinionated. Do we put this one in an llc since it’s a 4-plex or do we keep going in personal name and liability insurance? Are there great advantages or disadvantages? Thank you in advance!

[Ali Boone]

This question isn't really one that is for BP. It should be for your [hopefully investor-friendly] accountant. No one on BP can give you an exact answer because every single situation is different.

Side note, if you're a pilot (plane in your picture), so am I!