Is it better to hold the property via personal name or LLC?

The most dangerous situation is the landlord that owns 1 property.If you are midway between residential and commercial (5 properties) the insurance companies start considering you a risk and will only cover you with  more expensive commercial policies that require you to go to LLC's while LLC's might not be appropriate for someone getting new mortgages and has existing mortgages.What is the saying-go big or go home?

Also recommend the ULI education and book series on which food type you want.  

For me and the State of Colorado it's suggested to form an LLC.

This is proper financial management and should not have to be making LARGE funds to do this but a good tip.Found this good tip, in a one min. video series of 20 personal finance tips,at vimeo.com/banktv"BANK TV have 20 videos, a 1 min. video series of 20 different bank and personal finance videos/tips.

I often use leasing agents on the tenant buyer side to be able to find me a tenant that wants to do a rent to own on the house, they collect first and last months rent and the 3 % downThe tenant buyer puts three percent into an escrow account +1st and last months rent, and then The 3% fee is used as an option release fee.I know that probably sounds a little complicated but here it is in stepsOne I talk to the seller and I have them agree to enter into a lease and option (letter of intent) with my LLC as a business owner and not as an agent.

,You may get differing opinions, but much like @David Krulac said..I CONSIDER PRIVATE MONEY AS SOMEONE WHO DOESN'T LEND ON REAL ESTATE AS A BUSINESS.WHEREAS A HARD MONEY LENDER LENDS MONEY  ON RE AS A BUSINESS.Some other differences may be that you're more likely to know the private money lender personally, the rate is usually lower, they're just trying to earn a higher yield than they get elsewhere, and are funding the money themselves from their personal funds.Whereas you may not know the hard money lender, they are probably an llc/business, they are often funded specifically to make these returns, they typically have investors funding the deals looking for specific returns, etc..

My wife, Krista, and I own and operate Rogo's Handyman Service LLC. 

If so, would putting the my property into a NJ LLC before selling avoid this fee?  

My wife, Krista, and I own and operate Rogo's Handyman Service LLC.