I want to add buy and holds to my S-Corp that I use for Wholesaling/Rehabbing, rather than incorporating a second LLC. Any problems? Any advice?

[Troy Gandee]

Hi,

My business is still quite young at a year and a half. I am a Realtor®, but also rehab and occasionally rehab through my S-Corp, Loggerhead Property Team. I absolutely want to begin building a rental portfolio as a long term strategy once I have created more revenue. I was going to start up a second LLC to do rentals through, but I keep reading that if you have really good umbrella insurance, you do not necessarily need to isolate your properties with separate LLCs. I largely just want to avoid the logistical headache of operating a second LLC and I really don't want to face double taxation. I figure that with more volume and revenue entering and leaving my S-Corp, it will look more favorable in terms of financing, too. Does anyone have an suggestions or recommendations? And I know you're offering legal counsel, just conversation. I have a closing in a couple of weeks as an agent and I'm going to ask the attorney that I will be seeing. However, everyone you ask will give you a different answer in terms of asset protection. I am just hoping that some of you experts out there might have some kind words.

Thanks!

-Troy Gandee