Separate LLC for Rental Property and Property Management Co.

[John Welchen]

Hello All,

I'm new to the BP forum and new to real estate investing. So I'm curious to know if anyone has experience/knowledge about keeping your rental property and property managment company. Lets say I have 3 properties that I'm fixing up for rentals(all under LLC 1). I had planned on going with a property management company but decided that I will manage my own properties (start a PM comany LLC 2). Should I create 2 seperate LLCs for for both business ventures? Are their any benefits in creating multiply LLC's for this purpose? Has anyone had any experiences?