Help please! Setting up the business/LLC and bank accounts

[Jonny Morris]

Dear BP, Firstly, I would like to share that I am doing my best to learn and don't want to give the impression, as sometimes is the case, that I have not tried to find the answers. I have my HELOC approved. I have the following ‘goals’ or ‘things to do’ before I buy my next property. 1) Need a name for the business (Will be BRRRRing properties) 2) File LLC with state. 3) Get EIN. 4) Write my own ‘Operating Agreement’ 5) Open a business bank account. 6) Buy property. My questions are as follows: a) I am getting overwhelmed with the concept of a holding company and multiple LLC’s to protect me etc. Does anyone have a simple model for their R.E business? b) Should I use an attorney? I know this depends on my comfort level on the matter – I feel like this process is possible but don't want to be naïve. c) With funds in my HELOC, can I simply write a check from my HELOC to my business account for purchasing property through the LLC? I feel like I am getting closer and closer to the deal and believe firmly in the quote from Abraham Lincoln: “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” I appreciate your help and guidance sharpening my axe!