Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

@Corinna Gossner Any tax paying entity - corporation, partnership, trust, LLC or single or multiple tenants can do 1031 exchanges. 

Everyone's situation is different, and the truth is, it depends.If you're looking at more than 4-unit properties, you will most likely have to have a legal entity to get financing (LLC, corporation, etc.).

I went back to the corporate world in 2013 and completed my undergraduate and graduate degree and stopped appraising. 

They were NOT on the account, did not have any ID regarding the account & it was an EIN #'d corporate account.That was the same week they walked away from the property.

Corporate advances are generally those paid by the lender on behalf of the borrower for things like taxes and insurance.

Trumps 20% corporate tax break causes Global Recession/Depression in 2020.

Getting insurance, and protecting the corporate veil are the two most important things you can do to help protect your wife.

Of course when you purchase under a business such as a LLC you remove yourself as being liable but I want to know what the downfalls of purchasing under a LLC/Corporation are.

If you are going to market them as a Corporate Rental there are guidelines that can help you connect with the right customer.