Form an LLC to buy into an existing multifamily property?

[Phil B.]

Myself and my partner currently own a multifamily property. We own the building in an LLC that we are equal partners on. We formed a second LLC in WY as our holding company for future deals.

We are buying a 50% interest in another multifamily. The current owner owns the property 100% in his own LLC, "Main st LLC." My partner and I are doing a value add, then buying out that owner upon refinance so we will own 100% of the property.

My question is, do me and my partner form our own LLC to partner with "Main st LLC", that way our entity can be owned by the holding company? I believe the alternative would be purchasing shares in Main st LLC and all three of us would be in one entity. I would like our portion under our holding company in WY, I just want to make sure that's the correct way.

Thanks.

(I used corporate direct to form the WY company, it’s difficult to get ahold of someone to answer questions quickly).