If your LLC gets sued, and you are the single owner /managing member of the LLC, count on the plaintiff lawyer piercing your corporate shield.LLC for a small investor is like a nice vanity plate on your Ford Pinto.

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).

Benefits for you/ways to mitigate risk;- have him personally guarantee to lease if he wants it in his company’s name-I’m not a lawyer but I believe a lease in the companies name might eliminate some of his tenant rights -I would check on potential complications with suing a corporation vs an individual (I think the process is similar although if the corporation is found insolvent you will have to pierce the corporate veil to go after the individual unless it’s personally guaranteed)Hope this helpsThanksLuke

If you would like the name of an attorney that we use, let me know.Plus, be sure that your LLC has all the proper documents in place that would prevent someone from "piercing the veil" For an LLC to identified in court as a legal entity, there are certain required docs including operating agreement, proper articles of organization, disbursed ownership certifications, etc.

They'd have to pierce the corporate protection and discover the other LLC's through the member(s), which is very difficult to do.Not saying insurance is a bad thing, and said in my post you dont need to be worrying about trusts yet, but once you start getting into real dollars in assets you want to be looking poor to anyone looking at you IMO, no matter how much insurance you have.

Not only that, having multiple LLCs may increase your chances of a potential plaintiff piercing your corporate veil since most people are terrible at following corporate formalities (especially when it comes to bookkeeping). 

I'm more wondering about keeping my accounts separate and how I get paid and investing without "piercing the corporate veil".

LLC's are easily pierced if the owner co-mingles funds and does not keep diligent records.

Hey I have a property under contract near Fort Pierce if you are interested.

If I have an LLC in which I conduct my business, how do I actually take profits out of that LLC for personal use (i.e. pay myself) w/o piercing the corporate veil and losing my liability protection?