LLC on a buy and hold?

[Judy J.]

I've got a LLC to hold a property I'm closing on next week. I talked to people and they were split on whether I should do it or not, but I want to have multiple properties, so I went for the safety of it.

Is there anything you wish you'd known when you did your first LLC and property? Any resources out there? I've got a good lawyer doing it, a realtor who's family, and the Nolo books about LLC, and some real estate investing books, but not any good ones about holding properties in an LLC.

I've heard that it's hard to get lenders to refi on a LLC-owned property. What do you do when you want to pull money out?