Most lenders want the LLC to only have debt for their specific property, not multiple properties. 

@Yonah Weiss I agree that both would be commercial from the lender perspective but they would be depreciated via residential schedule of 27.5 years.

I'm a CPA who does a fair amount of work in the real estate industry and owns multiple residential rental properties as well.

All in all, multiple visits for mostly piddly items totaling a lot of money. ugh. 

whats best strategy to beat multiple offers??!!

I have bought homes with multiple liens before but there has always been enough cash going out to cover both liens.

:)My husband and I would like to purchase umbrella insurance We *think* we need multiple policies, possibly 3 of them, broken down by who owns what.   

She looks at things from an investor's perspective, and helped me purchase the duplex that I live in. https://www.realtyaustin.com/agents/Jen-Berbas.phpSince purchase prices and property taxes are pretty high, SFRs in Austin are definitely an appreciation game, not cash flow (assuming the standard 25% down). 

LLP is mostly used by professional organizations that not allowed to form an LLC.From a tax perspective - there is no tax savings based on what state you will form and create the LLC. 

That's just my perspective.