If you don't, your claim could be denied in an event of a loss at the property.

Rates are typically higher for rentals unless you claimed it's owner occupied at some point during the financing application.Ask your lender if they'll allow you to use the new LLC but sign a personal guarantee.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

I know every case is different and there can always be extenuating circumstances, but I'm still a bit incredulous at the claim of 8-10 months being par for the course.

Landlord claims they just got it back this week, but it was dated December 14. 

Sounds like the arrangement you are discussing is called "Subject To" where you can quit claim the property to the new owner but leave the mortgage in the sellers name.

Basically I needed a project manager, and since he claimed to have helped real estate investors in the past, I felt like this could be a successful partnership. 

In 20 years of selling insurance we have never paid a single liability claim on a policy.

In 20 years of selling insurance we have never paid a single liability claim on a policy.

We purchased it under or names personally but would like to quit claim to an LLC.