In the event you got sued they would just sue the LLC instead of you personally.

...not sure if putting it into an LLC is a 'transfer-taxable event' and if so, what number is that based upon?

I simply do not thrive in large events like that especially when most events that do happen to fit with my schedule are filled with seasoned REIs who I can't imagine would take a very young, inexperienced, college student seriously let alone be interested in networking.

Hey everyone,  I want to start wholesaling and have a few questions.Where do you find REI networking events?

It supposedly makes it more difficult to pierce the corporate veil in the event of a lawsuit.

Thanks Franky, I have cash of my own in the event of foreclosure and have read enough to know about possible exit strategies.

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I have listed some helpful recommendations for you:Meet BiggerPockets member in your area:http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you:http://www.biggerpockets.com/alertsRead Beginner’s Guide:http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts:http://www.biggerpockets.com/renewsblog/category/podcast/Find upcoming real estate events: https://www.biggerpockets.com/forums/521-events-and-happeningsForum and Blog rules: https://www.biggerpockets.com/rulesIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person.

Remember security deposits are for the protection of the landlord in the event that something is damaged or really dirty.

I'm really afraid that the 500k on fire insurance will get exhausted if there was a really bad event like death and a big lawsuit.The liability would in general protect me in that sense?