It seems unless you have financed the home in the LLCs name there is not a great benefit.

Option 1:  Spend $50,000 on a conversion from a huge basement garage to a mother-in-law unit that would increase your rent by $500 per month on an existing rental.Option 2:  Spend $50,000 on a down payment on your next deal that should cashflow $200 per month after expenses, in addition to the loan paydown, appreciation, and tax benefits.

@Alan J Mowder Don't forget about the middle ground between FSBO and Agent - that being "Flat Fee MLS", where you get the benefits of listing on the MLS (exposure, offer commission to buyer agents, etc) without the big listing fee that comes with a traditional agent.

Some pensions can even be passed on to a survivor (spouse/child) further benefiting someone else even after you pass.

I'm expecting to test for my FL's license exam in Spring and been wondering about the benefits and if I should really be pursuing this. 

I am still going to try and convince her of the benefits of owner financing.

You've already go the benefits of the Midwestern cash flow market right where your at.

This got me interested in what benefits were to be had by being my own contractor.

Also Andy, i would be very grateful if you were to send me those same documents and hopefully i can be of some benefit to you as well.

My question is I don't think there is a benefit to putting our properties in an llc to protect our assets if we have an umbrella policy.