LLC vs insurance alone: taxation

[Loic Assobmo]

Hey yall can any one explain to me the taxation for LLCs. First, do folks use their home owners insurance as an alternative to LLCs? Which type of LLC entity is best for investors owning several rental properties. I know the benefits are in terms of asset protection, however, I am a bit confused how you pay yourself, as well as how you tax your income. Also, how do you apply your business deductions - pre or post taxation?