If someone injures themselves and sues, they will be suing the LLC and not you personally.

So I wonder if I can sell my home in Idaho, purchase the new one under my personal name, then how many months or years must pass before I can setup an LLC as the owner of my primary residence, or if you think that will be a good idea? 

Real estate investment is my future.This amazing voyage begins with setting personal goals and vision.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

You look like the kind of person who is going somewhere.

From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  

Look into a DSCR, Debt Service Coverage Ratio, loan where the rental income can be used to qualify the cash out refinance instead of your personal income.To Your Success! 

Personally that is what I wanted, an active mentor. 

The issue was a person sold their home subject 2 and the person who bought it stopped paying.