Structure for new investment properties

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Hi All, 

I'm new here but have been doing a lot of research and reading on this forum. I'm hoping to setup an investment structure soon and am looking for some guidance. I'm a CA resident with a vacation property in AZ. I'll be purchasing a property in AZ next year to rent to my son and several of his friends when they start college and I may turn my vacation property into a rental as well. Eventually, I'll be moving full time to AZ and hope to purchase additional rentals in Arizona within the next few years. 

I'm thinking about creating an AZ holding company with AZ subsidiary LLCs for each rental property and 1 LLC for property management. Because I'm a California resident, I understand I have to register my operating LLC in CA and pay the minimum $800 in taxes. I think the best way to handle this is to register my property management company in CA so that as I add properties/subsidiaries to the holding, the rents will all flow through the property management company thus not expanding my business in CA.

Does this sound reasonable? Any suggestions that may improve my situation? 

Thank you, 

Daniel