The purpose of an LLC is for anonymity or legal protection.

Based on what I have heard/read thus far, it seems like I don't need a formal legal structure such as LLC for running this is as an active business (but I may set up an LLC for asset protection, which is allowed by my mortgage lender).

In previous crashes, the market out performed class a whereas now, it is initially out performing A, but many economists are for casting a quick recovery for A while B and C take a few years to rebound fully. i think new buyers have to require a higher going in cap to protect themselves.

Brokers can look at tax records but past that they are not going to do title examinations and date downs again thats what title companies are in business for to protect buyers and protect your title..

The LLC only provides basic legal protection.

Granbury is also very protective of its bed and breakfasts.  

@James McGovern if I can assume by "undocumented immigrant" you're talking about someone who entered the country illegally, he/she would not be considered part of a protected class under federal / state Fair Housing laws.

Title insurance protects you from adverse claims, whatever that means.

I own properties in two locations over 2000 miles from home and thank my managers every time I talk to them for protecting my interests and putting up with day to day issues that I don't have too.

If you are concerned about lawsuits, an umbrella policy may be a better choice.An LLC is useful for two things: anonymity and legal protection.