Setting up LLCs with a 50/50 partner???

[Mike LaLone]

Quick question about setting up LLCs for rentals with a 50/50 partner. 
I have two rentals, each in their own LLC, and my partner has two rentals of his own and they are held in his own LLC's.

We are looking to start purchasing multiple rentals with a 50/50 partnership. Any proceeds from these rentals will be saved and used to accumulate more rentals. Does it make sense to have a Holding Company LLC in which all of the rentals funnel into? Should the holding companies own the LLC of the individual properties?

For example, if we buy 123 Main St, we will start 123 Main St, LLC to own that property. We will be 50/50 partners in 123 Main St LLC. When cash flow comes in however, we'd like to move that money from 123 Main St, LLC to a Holding Company, LLC that will eventually be used to purchase 456 Main St.

Should Holding Company LLC (50/50 ownership) OWN 123 Main st, LLC and 456 Main st LLC?

Any advice would be greatly appreciated.  

Thanks,

Mike