Really breaks down the different types of assets we have here in Cleveland.

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

I was willing to accept this since it's a highly priced asset and I'll be living in it at first.

As a new investor which is better/ easier to obtain in order to purchase a home, loans or a buisness line of credit if I open up an LLC. 

what are the rent comps like (avg rents and occupancy), what is happening in the submarket, and what type of debt can you put on the asset?

Essentially, want to get advice from a professional on asset protection (LLC?)

I'm excited to surround myself with like-minded investors in the area who are also working to pursue financial freedom/ increase income via investing in assets. 

After you have a few properties under your belt, then start looking at asset protection.

The third year your mortgage rate returns to the fixed interest rate that you obtained at the beginning of the loan. 

This may mean a $400k+ loan with at least 3.5% down.How would this 96.5% LTV affect my ability to obtain future financing?