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Updated about 9 years ago, 10/29/2015
LLC or sole prop
Yes I know this topic has been discussed many times. However I am accumulating more properties and I need to make a commitment to either forming an LLC or just staying a sole proprietor. I have heard and read that lawyers like the LLC because it generates easy cash for them to set it up, but any of their brother lawyers can easily "pierce" the LLC because the reality is that the LLC IS the landlord since we manage it.
The official line is also that LLC owners cannot represent their LLC properties in court for evictions yet I hear that many landlords with LLCs and even S-corps routinely do their own evictions with no problems from the judge.
So what has been all of your experiences? Have any of you been sued, but protected by an LLC? Have any of you had your LLC "pierced"? Have any of you with LLCs represented yourselves in court with evictions? Thank you in advance for informed opinions and experiences.