re: advice on llc set up for renting condo

1) Go to Sec of State website and fill out information needed to form LLC
2) Apply for EIN with the IRS
3) Take your EIN letter, and your certificate from the state (may take a few days, they can usually e-mail or fax it to you if you call them) and go to a bank, set up account
4) Transfer money into LLC bank account
5) Buy house
6) Use the LLC - have the rent checks deposited into it, and pay all expenses out of it. If there isn't enough money in the LLC account to pay bills, deposit more personal money.

Important thing is to actually use the LLC. The whole point of an LLC with rentals is to protect your other assets in the event something goes tits up with the rental. If you don't actually use the LLC to handle operations, a good plaintiff attorney will blow the LLC up and you will lose your asset protection.