What is not so simple is knowing how to run it so that is actually protects you.

There are several factors behind this; two of the more prevalent are the {relative} size of the real estate markets in Canada and the banking regulations requirement for lenders exercise of fiduciary care to protect the equity of the owner & sell the property at FMV.

I’m curious if I should be moving these properties to several LLCs to protect my assets.

Protect yourself and use your inspection periods wisely.

Is there anything I can do in the offer to protect myself?

My issue is that I don't want to buy the property for cash and then have my end buyer change her mind and back out leaving me with an unwanted property and no cash.There will be contracts involved for both parties but what specifically should I do to protect myself so that I don't end up getting stuck in the mud.

If the owner doesn't pay the taxes, the mortgage holder will pay to protect their interest. 95%-97% of all property tax liens are paid off before going to foreclosure.By looking for very good properties with mortgages you will most likely be paid off.

Just protect that original amount as much as possible.Below is a listing I have in my market.Best with success!

We will be acquiring it as individuals and would like to hold the property in an LLC for liability protection.

If you are really going to hold forever and you really want to pass this on to your heirs...Get a good estate planning attorney NOW because you want to get these assets into protected structures that can increase in value without ever hitting the estate tax exemption limit.Over the years, I systematically moved income producing real estate into GRITs, GRATs and GRUTs and now no matter what happens it is all out of reach of the estate tax man and creditors.