LLCs  have expenses associated with them (which depending on the state can include annual filing expenses, and filing fees for holding properties in other states, etc), but for just getting started or owning a small number of properties , you likely do just as well to just have some extra umbrella liability insurance.  

Hi @Daniel Kevin Lara, I'm going to assume from your question that none of your utilities are individually metered (a bummer, since that simplifies this scenario a LOT).I would work out the historic averages for the utilities and split the average among my tenants, either:- Split it evenly not factoring in my usage (i.e. they pay the full share) OR- Split it evenly between ALL residents and add a surcharge to give some buffer or padding. 

@Marco TrimbornHi Marco, I have a LLC (disregarded) in each state that I have property which is owned by the “parent” LLC which is a WYoming LLC (files as a partnership) I guess it’s overkill but it works for me.

You will be waiting forever for that next month to post a 3-day notice with them telling you that they will pay everything if you don't file an eviction. 

We filed for eviction, but the marshall has still not (it's been almost 3 weeks) notified the tenant. 

@Jacob EddyI am in NY state, here where I am, people file suit against you personally anyway even if you have an LLC.

Don't cut corners during the feasibility period.I recently purchased a park with 9 pads (room for 4 more). 

She did not file a complaint so they dropped it.

After 4-5 years you'll have 2-3 deals under your belt and a nice launching pad

GPs and LPs own an actual % of the property(ies) they invest in as proven by the K-1 tax statement they file with their tax returns every year.