Residential STR protected by LLC?

[Jeff Oberts]

Hi, guys! I'll double check with our attorney or accountant, but does anyone know if a STR property, purchased under a residential mortgage as a second home, is covered by an LLC (should I choose to form one), from a liability stand point?

Thank you!

[Julie McCoy]

Not an attorney or accountant, but based on what I know, save the paperwork and just get an umbrella insurance policy to protect your liability.  Then no additional bookkeeping, no potential to pierce the corporate veil, and the way the tax code is now structured it's not going to make a difference to your tax liability, either, I don't believe.