Need some help starting an LLC and opening a business account

[Shane Elias-Calles]

Hello everyone,

I am under contract on the first property that I plan to house hack with renting out to roommates. I am trying to start an LLC and open a business account. Has anyone gone through this process? do you recommend forming the corporation online?

I also was wondering if yall would recommend using a big bank or local bank for the business account? 

Thank you for all the responses in advance ! 

Shane 

[Mike McCarthy]

Are you sure you want to start an LLC to house hack? How are you handling funding for the house? FHA and conventional mortgages won't lend to an LLC.

Plus, I'm not convinced and LLC will provide any asset protection considering you're managing the property and living in it.

There might still be reasons to use an LLC, but be sure you're not adding more work and cost and not getting anything back for it.