The thought of the LLC was because we want to protect ourselves as best we can.

With you being in a tenant friendly state you have the lower hand, the only way we can protect ourselves is to screen.  99% of the time when someone writes a post would you accept I already say no before reading but read anyway. 

We have not heard from the hotel and conference venue yet specifically, however, we've heard from relatives of some of our team members who are safe and said the damage is less than expected thanks to the floor protection systems installed post-Katrina. 

I once chipped a tub dropping a tiling tool from about 3' because I used the cardboard to try to protect it and didn't tape up moving blankets. :( But I still like it more than fiberglass.

I'm looking to protect my rental with an LLC.

Some people prefer the clog to happen at the toilet, figuring if it is harder for large things to pass, it protects the drain more. 

Business purpose lenders also allow you to protect yourself and your personal assets from lawsuit and other financial risks by allowing you to own the property in an entity versus your personal name. 

Government systems tend to protect the 'little guy', but since there is no other option for dispute resolution in BC, it is what it is. 

I understand condos in downtown are generally a bad investment, but I really don’t want my quality of life to suffer by moving far just for the sake of home ownership. 

Thanks to my high W2 income and not having any debt, it would also be easy to get approved for some cheap 2.x% financing.Having never owned real estate, a good way to get started would be by owning my primary residence for a while, with the intent of eventually renting it out in a few years and in the meantime seeing how I feel about maintenance and home ownership in general.Unfortunately, the areas I am looking at are in very high demand (River North, West Loop, Fulton Market), and have prices such that I would at best barely break even with rent after taking into account HOA and taxes ($300k-500k range for 1-2 bd, HOA in the ~$500/mo).I understand condos in downtown are generally a bad investment, but I really don’t want my quality of life to suffer by moving far just for the sake of home ownership.