But it really just depends on what type of property you're looking for.

For example, if something happens in Property #1 (Owned by LLC #1), they generally can't go against Property #2 (Owned by LLC#2), etc.Having plenty of insurance is also important.The main thing is that everything gets done on the up and up and get done properly.As for state income tax liability, a lot of it depends on how the LLC is set up.For IRS purposes (and many states) by default, a LLC that's owned by one person (or a husband and wife in a community property state), is usually what they call a Disregarded Entity.

@Nikki Aine depends on the location honestly to see if it is a good deal.

You may adjust depending on the market when the leases come due.

Depending on the equity that you have in the property, you may consider an LLC as an asset protection tool.

depends, is it a nicer newer place?

But it all depends on your market, quality of the rentals, your level of desparation, etc.

@Brian GarrettGotcha, understandable We haven’t ruled out flips just yet, just trying to see what other ways may be out there, or if 20-30k would be sufficient depending on the market for a flip.

Generally, it depends on your networth and what you are trying to protect. 

So i'll put it up for an investor for $36,700 (my fee, sellers cash, mortgage and taxes) maybe less depending on what the mortgage company agrees on.