@Matt HamanAn LLC isn't necessary for a new buy and hold investor and is more of an expense than a benefit.Most people will recommend just having enough insurance coverage.An LLC for buy and hold is a pass thru for tax purposes.

@Colby MulryMany people on this forum utilize umbrella insurance policies or LLC's for asset protection. 

Below are my numbers.Purchase price: 80kDown Payment: 16kClosing costs: 2kAnticipated Rent: $1150ExpensesVacancy: $50 (some might say low, based on my experience, I think this is reasonable)Insurance: $20 (I have a separate umbrella)HOA: $197 (well run association with decent reserves)Repairs/Capex: $100 (I don't have a ton of experience, but I think this would be attainable.

That is why a title company should handle all settlement and you get title insurance.

You should account for: maintenance, CapEX, vacancy, PM, debt service, insurance and taxes.

Will your activity be covered by your E&O insurance?

Life insurance companies on the other hand have longer term liabilities and they look for longer term assets (25-30 year loans) to match that.

I signed up as a pro member of BP, joined a webinar by @Brandon Turner, analyzed a potential deal, have been listening to 1 podcast per day for 6 days a week, have been reading BP articles, started reading BP's The Ultimate Beginner’s Guide to Real Estate Investing and Building Wealth One House at a Time, bought 4 BP books, created my BP profile, talked with a California real estate agent, talked with an Indiana real estate agent in referral, talked with a friend who's a real estate investor, asked friends for real estate agent referrals (even out of state like Nevada, Chicago and Tennessee), etc.Bottom line is I'm super pumped about real estate investing :) Just in case anyone is curious, I'm looking for a team of mentors, real estate markets outside of California markets, real estate agents, mortgage brokers/loan officers, real estate attorneys, property managers, contractors, insurance agents and handymen.

Get an umbrella insurance policy and wait until you have assets to worry about an LLC.

The rental market in my state is insane, median rent is around 1250/month most of what I can find is around $1500/mo, So I started thinking, Maybe I'll just get a house the mortgage wont be too much more, upon doing research and talking to mortgage brokers and real estate agents, on a 160k home with only 3.5% down My mortgage would be around 1400/month which includes taxes insurance pmi etc.