Structuring Income of Property Management LLC

[Zachary Toothman]

Hey All,

I have been building out my portfolio of properties, each held in an individual LLC. I am now considering creation of a property management company to simplify some finances. Are there rules against assigning all profit of the ownership LLCs to the property management LLC or S-Corp? Effectively the entities owning all the properties would show $0 net and the property management company would be the net of the sum of all?

Thanks!