Being a landlord...

[Strongbad]

I am interested in buying a few properties to generate some rental income.

I have had some people advise me to start a company and buy and manage all the property through that company.

I have had other people advise me to keep everything in my name.

Is there a better way to do this?

What are the pros/cons?

Any advice is appreciated...

There are a lot of articles on the web about this but having it in a company helps to ensure that you are not personally liable if sued etc

Certain tax issues may exist as well so it is a good idea to have professional counsel review your details.

"There are a lot of articles on the web about this but having it in a company helps to ensure that you are not personally liable if sued etc"

This statement is not necessarily true. Some states will hold the officers of an LLC liable if the LLC itself is not fiscally sound (has assets which outnumber its liabilities and debts). LLCs do not always protect you from liability. I suggest you consult a real estate attorney in your area and your tax accountant for the consequences of taking this action. If you have only a fe properies, owning them in your own name and just protecting yourself with a large liability umbrella policy can sometimes be a better choice. Additionally, puitting each future property into a separate LLC can seperate liability to just that property (and not to the others held in the same LLC). But LLCs have other consequences - like forcing you to use an attorney for any eviction you may have to do. (Only the owner of the property-the LLC itself- or an attorney may do an eviction. You are only an officer of the LLC, not the owner anymore.) Please consult the above listed people for correct advice depending on your state's laws and any tax consequences.