Maybe some liability risk avoidance but you can mitigate that with an umbrella policy (which you should have anyway).On the flip side, if this is in your personal name you can avoid capital gains taxes, get more favorable mortgage terms, and avoid the added transaction costs associated with the transfer.

The s-corp owns little and certainly not real property.CAN you own both under the same 'umbrella'? 

@Pedro Bartolomei It depends on a lot of factors, one thing in my state with a minimum of $800 annual fee for each LLC, having one per property starts adding up to quite a bit where for the price of one of the LLCs or so you can get tons of liability coverage and umbrella policy.Regardless, having proper insurance is important because it is probably more likely getting into a car accident and sued than having a tenant sue . when something like the first scenario happens it wont matter if you have 1 LLC or dozens.  

We rented our first home out and got an umbrella policy to protect ourselves.

For regular single family homes, aside from typical homeowner's insurance an umbrella policy of up to $5M is carried to mitigate the risk.

LLC is for asset protection which you can keep it in your name with an umbrella insurance policy and get same results.

For your "average" residential home, doing it under your own name (not even really a sole proprietorship) is fine with insurance and an umbrella policy. 

Use an LLC if you care to but umbrella insurance is better.

I'm currently doing all of this for and under the umbrella of my current employer.

Hi, I am getting ready to be up for renewal of my general umbrella policy that I have in place across all of my rental properties.