Placing Rental Properties in LLC's

[Ethan Painter]

Up until this point, I have only flipped houses, but I want to begin searching for rental units to purchase. I have heard it is best to start an LLC for each rental property you purchase, so that if you get sued, they can only go after the value of one property, instead of all of them. Is this true? If so, how do you make this happen logistically, because you would have to put the offer in on the house, and once it was accepted, file for an LLC, but that can take a lot of time. So what is the best way to make this happen?