LLC or S Corp or Umbrella insurance?

[Josh Edelson]

Hello - 

I have 11 properties in my own name and a $2m umbrella insurance policy. I’m looking to eventually get to 20-30 units and want to be prepared. 

Annoyingly, in the state of California, you have to pay $800/year on each LLC and have to file a separate tax return for each LLC bringing the annual cost to like $1200 or so. Kind of kills the cash flow if you have to do a separate LLC on each property.

What’s the best entity to have, and is there a way to set one up where the tax savings outweigh the costs?

- Josh