The importance of setting up an LLC -limited liability company-- for your us property:

Many investors prefer to own the property through an LLC (limited liability company). Some of the benefits are:

• To protect  property owners from personal liability
• You pay less taxes and are protected against bankruptcy
•  Property can easily be placed in an LLC
• Putting property in an LLC places it out of reach of personal creditors

As per wikipedia definition:
"A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. It is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions. LLCs do not need to be organized for profit.

Often incorrectly called a "limited liability corporation" (instead of company), it is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. It is often more flexible than a corporation and it is well-suited for companies with a single owner.

It is important to understand that limited liability does not imply that owners are always fully protected from personal liabilities. Courts can and sometimes will pierce the corporate veil of corporations (or LLCs) when some type of fraud or misrepresentation is involved^."


 LLC in Georgia

http://sos.georgia.gov/corporations/filing_procedures_llc_2001.pdf