We agree that partially owning this asset may not lead to wise management and decision-making over time.

Hi Sara, Ultimately, the decision to keep the property as a rental or sell it within the 5-year window will depend on a combination of financial, market, tax, and personal factors.

Your financial ability to fund this and recoup2.

I have taken new renters who meet my minimum financial criteria over higher score person "looking for a house" or someone who says they are staying but really is just looking for short term.

I didn't choose this profession per se; I'm actually disabled and needing to do this to supplement my income (although I have felt immense appreciation for the good tenants and proud of the way I continue to learn).Now I am in the process of my first eviction with regards to my current basement tenant (they're just not paying me rent, everything else is fine with this person but their financial excuses have been hard to keep track of since the beginning).  

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

People who have been doing it for years are mostly steady but part timers aren’t getting paid well and jobs are sparse.If you pay $170 for the NNA NSA course, you’ll learn briefly about the closing process but not enough to benefit.Most of the closings you do are with people who are financially illiterate and often times don’t really know what they are signing and expect you to explain it to them.

But for now, it allows me to continue to buy strong assets and not take on a lot of risk. 

Should I create an LLC at this point to protect my personal assets and tax planning?

Thoroughly analyze prospective inve­stments through inspections, financial revie­ws and familiarity with local landlord-tenant regulations.