Buy Rentals through LLC or Individual (Loan/Deed Questions)

[Jared McCullough]

I am currently in a LLC with (2) other partners. Our first house purchase was a cash purchase done prior to the LLC being formed so the deed was drafted in (2) of the (3) partners name at the time (i.e. dumb decision now that I realize it). We looked to transfer the deed into the LLC but realized that was going to cost quite a bit of money so decided to forgo that at the moment. This being said now that the LLC has been established I have been reading a lot of threads and have noticed quite a bit of conflict with people suggesting they struggle to get loans and insurance through the LLC versus an individual. This is what my questions focus around:

1. For the existing property should we be looking to transfer this in the LLC immediately? As background once the rehab is done we were hoping to pull a LOC or CORF on the property.

2. For future properties are we better to make our cash offers as an individual or as the LLC? Similar to above we would plan to LOC or COFR to pull the cash back out to make another purchase.

3. For future properties should we be looking to deed the properties in the LLC or through one of the three individuals in the LLC?

4. It is my understanding that we can't get a standard conventional mortgage through an LLC. Will a bank usually give a conventional mortgage on rental properties and if so should this be the route we are looking is to take loans out individually between the 3 of us? (i.e. If I have $18k of working capital to hold in a property do I buy 3 $30K houses on a conventional loan or try to put the $18k at 1 house and COFR to get the 75% LTV assuming it is $30k+)