Identified first property - setting up the admin

[Christian Weber]

So question - buying first investment property with 10% down conventional

Question - do I buy it in an LLC or in my name with an umbrella policy

Do I set up separate bank account for it

Do I get a separate credit card for it

The unit already has a tenant in it with 11 months left on the lease. 

Thanks for answering the dumb questions

[Scott M.]

"how do I have the home in an LLC and a mortgage in my name". Generally, you don't. Generally speaking if you have a conventional mortgage it is in your name. Other people that do it are generally using commercial loans because their LLC has been established as its own profitable entity for years.

Because you are new, this is your first home you buy the home and get the conventional mortgage in your personal name.  Or you look at private money mortgages or similar, not the conventional route. 

But keep it simple, get insurance and the odds are everything will be fine.