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I am currently own a property for primary use, but want to convert it to a rental (it’s a condo). I want to hold the title to the condo in a LLC to limit my liability while it’s being rented.

My question is if 1) this will effect my current mortgage, 2) what effect will this have on my insurance policy and 3) what exactly is involved in the transfer?

I have read that it is simple as long as the LLC is owned solely by me as well.

Does anyone know about this?