There is also the perspective that when you own an investment property free and clear, you're a much larger litigation target because there is actually money to be sought & paid out in a lawsuit against you.Also, if you utilize leverage, you are adding things like mortgage interest to your list of tax write-offs and letting the tenant pay down the principal(increasing your equity over time instead).

Chris -- There is an expense and hassle factor for each LLC that you hold, and this has to be weighed against the very remote chance of a successful lawsuit against you that would exceed the liability insurance protection that you have in place.You most definitely will need separate bank accounts for each LLC, as well as operating agreements and company records.

I am specifically looking to see if:1- There is ANYONE in Texas that offers similar "1 stop" services for business structure planning and implementation, asset planning, tax planning, advise and preparation as they do.or 2- Anyone within this community, IN TEXAS, has built a team of attorneys and CPAs they have grown to trust through experience, (Bonus points for successful tenant lawsuit outcomes and Tax audits) (Not that I wish either on ANYONE, but that's what all of this community collaboration is working to avoid, isn't it?)

Melanie, I have one:Right after buying my first property (all this was before becoming an agent), I stumbled on a house for sale with an in-law suite and an extra lot.  

Does the insurance open claim before the lawsuit (if the landlord has not been served yet)? 

I expect to see the class-action lawsuit come out in no less than 60 days, delay is just to allow all the various person signing on and donating.

It is a duplex with an in law suite on the property. 

Start looking for SFHs that have an in-law suite that can be sourced as an STR via Airbnb.

If you do not do this, there is a risk of fines or the LLC being invalidated in a lawsuit. 

Bought another for 325 put 350k.....that Includes a 3 year lawsuit..... and sold it for 612.