🔥Thankfully nobody was killed or injured.

@Jeremy Woods if we really want to get in the weeds...An LLC owner can be held personally liable if he or she: personally and directly injures someonepersonally guarantees a bank loan or a business debt on which the LLC defaultsfails to deposit taxes withheld from employees' wagesintentionally does something fraudulent, illegal, or reckless that causes harm to the company or to someone else, ortreats the LLC as an extension of his or her personal affairs, rather than as a separate legal entity.Wouldn't buying in your name then transferring to the LLC meet the two bold comments?

You do not want to be held responsible for a tennat injuring themselves on your property doing work.

It shields you and your family from the potential back breaking liability that can arise from folks getting injured on your property.

Unfortunately I was injured pretty badly and was medically retired from the military recently.

It is inexpensive AND provides prima facia proof you are not trying to structure your finances to make yourself judgment proof should your tenants (or their guests) be injured and you are held liable.Others may have a different opinion but $300 a year is protecting far more than just the equity you outlined above.I've been told by a couple different people that you can only be held liable above and beyond your liability coverage to the extent of the equity in the home.I don't know who told you that but it is absolutely not true.

If you are an illegal and you get sick or injured, you can get treated with no problem.

I agree with the feedback and wonder if a DBA or LLC can help seperate the real estate holdings in the event a tenant is injured, etc.

For example, if you use a hole auger, you will very likely get it stuck in the ground and the force can injure you if you don't know when to let go.It's one thing to do it on your own house and assume the risk yourself, but quite another to allow a renter to do it on your house.

I am a partner in an LLC, one of our employee/owners was injured on the job.