LLC for personal residence?

[Jack Zuchars]

Hello Forum
I've read and reread about setting up an LLC before buying a property and it's advantages. Just spoke with my CPA and as per her, getting a mortgage on LLCs name has gotten very hard. Is it true? What's the general experience and advise here?

I'm in NYC and would like to purchase a 2 family - use one unit as primary residence and other rental.

If not LLC, is it still possible to take depreciation write off on personal returns ?

Any insights would be helpful. thanks much.

[Dave Toelkes]

Jack,

When you have a rental property, you get the same rental expense deductions whether you have an LLC or not. If you hold the property in your own name, you report your rental income and expenses on Schedule E (1040)