The LLC is for my contracting business but I was also considering setting up a separate one for my rentals (especially if business financing is a possibility) or should my liability insurance be sufficient for now?

This isn’t a long term play, so I’m not emotionally attached to the condo or a house, just want to do what makes the most sense.

We haven't given up and sold one, but that's also an option.if the home was refinance with 2 separate loans how much would the closing costs for 2 properties cost typically?

Purchase price: $135,000 Cash invested: $60,000 Freshly remodeled single family ranch with separate basement unit in booming Ooltewah, Chattanooga TN, just minutes from the Collegedale, the Volkswagen plant and Southern Adventist University.

The lawyers I spoke with want ~$900 but require that both myself and my relative each retain a separate lawyer.

That is why we need a separate LLC for each property.The more we own the more we have to maintain.

The Lease/option is actually 2 separate agreements...the lease and the option. 

Should I also get a separate umbrella policy? 

Hi,I've noticed that it's not uncommon to see homes where the garages were converted into separate living space.

Initially, I lived in the 1BR and then I realized that the separate entrance small bedroom and bath wasn't really used.