Using a new LLC to purchase residential real estate

I am under the impression that an LLC can purchase residential real estate, but is there a minimum mortgage amount? I know that it would have to be a commercial mortgage, but I am trying to work towards keeping properties out of my name. Also, I am really trying to establish a proper business structure for a rental business. If any of you experienced individuals can enlighten me on the subject, it would be deeply appreciated.

Thanks

Answer

I'm not aware of any "minimum" mortgage amount for an LLC to own a piece of property.

Unless the LLC is a huge public company, it's likely (almost certain) that the mortgage company will require you to personally guarantee the mortgage loan.

It is risky to keep any real estate (except for your primary residence, and perhaps a vacation home), in your personal name.