LLC structure advice...

[Jonathan Ruths]

My wife and I bought our first investment earlier this year - an STR. We have a money partner who helped finance some rehab costs for that property in return for some equity. We created an LLC, set up the bank accounts, and are now looking for our next property. After the original LLC was created (simply titled after the street address), we starting using the branding "Family First Hideaways" when talking about the web of properties we would like to acquire across the country. I'm just looking at our current expenses - some are specific to the first property (street address LLC) like cleaners and handymen charges, but a few - mostly managing and analysis software - are going to carry over and used for other properties... Since our plan is to bring in partners for future purchases, should we set up a separate LLC for "Family First Hideaways" that can act like a holding/managing company to become the partner in those future STR acquisitions... or am I just getting ahead of myself.

Thanks for your input!