One LLC per Rental Property? How to Manage Them Efficiently?

[Robert Carlson]

Hello fellow investors, 

I am contemplating setting up my new rental property investment business via a Wyoming or Nevada S Corps holding company and one LLC per rental property I buy in multiple states. However, if I get to the point where I own even 10+ properties, keeping separate bank accounts and other requirements for each LLC seems like a headache....If anyone has a similar structure, please share best practices and pitfalls to avoid in managing multiple LLCs. Thanks!

[Matthew McNeil]

Originally posted by @Kerry Baird:

@Matthew McNeil, I’m curious about your last portion above...what is often omitted? 

No blending of personal funds with the LLC. Separate bank account. Insurance policy must be in name of LLC. Asset needs to be QC'd into LLC. If PM is used, the Management Agreement needs to be in name of PM. No money can be given to LLC unless it clarified as a loan. Signing checks must include the identification by signatory as "Managing Member", etc.