@David Faulkner,No - and LLC alone will NOT protect you.

Yes, well it sounds you have endured a series of trials and have lived to tell the tale.

Focusing in the DuPage county area.My daughter and I have formed an LLC to do business in.Initial focus will be through Wholesaling; with a goal to do some rehabbing flip's in 2016.

The company borrowers money from other partners LLC at 4% for 30 year loan with a ballon at 7th year.

I own 3 properties and I am onto the fourth house.If I buy a property in my name and have a mortgage in my name, how can I transfer to LLC?

In 2016 we hope to release an ADU home series with a set price and turnkey solution.  

I generally structure this in a partnership LLC where each year you would get more of a percentage ownership.

Once you make money, you can put it in escrow and use it to pay for an LLC or to use for POF letter.Hope this helps.

Should we create LLC?

I am the co-founder and managing partner of J&J Property Solutions, LLC here in the Dallas/Fort Worth area, a service oriented company that specialize in real estate acquisitions/solutions.Look forward to meeting you guys here in the BP community!