New landlord here with multiple properties.

[Nathan Paisley]

Just some basic questions I need help with. 

1. I need to do some rehabbing to the properties to get rental ready. Do I put the utilities in my name or LLC and am I able to only turn them on for say a 30 day period?

2. How did you insure all your properties? Individually, umbrella or other?

3. Are the properties in 1 LLC or multiple?

Any tips you can think of for this newbie would be very helpful. I am going to be utilizing a property management company for all properties. These are sfh fyi.

[Larry Turowski]

@Nathan Paisley 1. I've found it easier to put utils in my name. When I've had them in the LLC they wanted a business deposit and I had to actually visit an office and sign some stuff--big pain.

2.  All your properties should be insured individually.  You may elect to get an umbrella policy, as well, for extra protection.  I'm not even sure there is such a thing as an umbrella policy that would cover otherwise uninsured properties.

3. The number of LLCs is up to you. It is about protecting your assets and minimizing your expenses. Some would put each property into its own LLC. Others don't even bother with an LLC and just get a whopping big umbrella policy. Personally, I think the difficulty of managing multiple LLCs would tilt me in favor limiting them. It would all depend on how much equity and assets are at stake.

I'm guessing you have less than five properties. I'd put them in one LLC, insure them all, and get an umbrella if you have any significant equity.