To LLC or Not to LLC

[Christine Stone]

Hello BP Friends! I'm ready to look at starting an LLC for my properties, but I've heard mixed advice about their necessity and benefits. I would be starting the LLC as a disregarded entity and reporting my profit/loss on a Schedule C. My main questions are:

• What are the biggest benefits of LLC's?
• Are there any reasons I shouldn't start an LLC?
• Will I be subject to additional taxes with an LLC?
• Is it advisable to have a separate LLC for each property?
• Can I form an LLC for my primary residence? (I'm currently house-hacking.)

Thanks in advance!

Christine

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