Best Legal Structure for multiple properties in different states?

[Andrew Dasso]

Hello

I live in Virginia and own a rental property here. It's currently under it's own LLC that was set up in Virginia. I also just purchased a property in Florida and instead of just opening another separate LLC for it in Florida my attorney suggested to have one LLC for operations and one Series LLC for asset holdings. The LLC asset holding llc ( to be set up in FL) would hold the Virginia and Florida properties and future properties gathered in different states under this one LLC.

The LLC operations ( to be set up in FL) would then have one account where all the cash from all the properties flow through.

Both of these LLC's would then be rolled up to a trust ( setting it up in Virginia- although not sure on this one either- maybe setting up the trust in Delaware or FL would be better)

Two questions- 

1- Is this a good structure for liability protection? I'm planning to buy more properties in different states. Even though I live in VA I think Florida might be a better state to open the LLCs since there is no income state tax there

2- I do not have a real estate license ( and do not plan to get one)- Isn't this a requirement to have a LLC Operations entity since it will essentially be a property management company collecting rent etc?

Thanks in advance!