I will add to what Jason said, and I'm not an expert here, but my family has several rental properties behind an LLC.

I need to move my personal SFR into an LLC or two LLC's and one that knows about "equity stripping" and "charging orders".

For Asset protection - I'd suggest Atty Milt Colegrove in Plano area for doing the structure of your businesses... we have used him for Texas Series LLC for our rentals.  

I've done quite a bit of reading here on BP, and did not reach any firm conclusions.The LLC owner says he is not selling securities and thus is not required to have a license.

I really like Bridge Management LLC led by Nathan Brooks.

@Alexander Moses  I will be in OKC next Friday sat sunday scoping out your market.. unfortunately the warrior thunder game is Sunday if it was sat I would have gone.. should be a good series.

However, my current lender, although a "conventional" lender, will not allow me to acquire a property in a llc, even if I personally guarantee the note.  

After the dust settles, I will switch the beneficiary of the trust to my name or LLC.

I think I know the answer, but figure I'd askIf I form a LLC would I be able to get a FHA loan through the company I form?

I had a guy want to form a LLC with me recently.