I forget its opening bid but it was much lower than $1.2M.

The lawyers that we've gone to are telling us that we are required to pay for them to open an LLC and put the home in it (lawyers are saying the paperwork for an LLC is $1k) and we are trying to stay simplified and not pay the extra amount for the LLC so we can take action on the real estate deal. 

As a FL Mortgage Broker, Real Estate Investor and Landlord, my advice to investors who are opening new LLCs, is to consider include the word RENTAL(s) in the name of your LLC.Examples:Smith Rental Properties, LLCSunshine Rentals, LLC Reason why? 

Im really wanting to look at buying in the Houston area but am def open to DFW , east TX.  

We opened a HELOC on another rental property (a 4-plex) with 800k in equity.

Hi Steffen, I am pretty open as far as area as long as the numbers pan out and the project is interesting from architectural standpoint since I am an architect. 

I am also open to the idea of researching out of state markets. 

I am definitely open to different suggested cities throughout the United States.

Should I create the LLC and use the Tax ID to open the bank account or just open it under my name for the purpose of the property?

It is easier to show it to everyone and encourage everyone to apply to not be accused of leading or discriminating.You can also set up appointments open house style where you are there only a certain time and they overlap, because you will run into no-shows.We show all interested folks the place and offer an application.