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Updated over 2 years ago,
How many bank accounts for many properties held in separate LLC?
I have read through many of the forums but I have not found a clear answer on the following question.
I have 4 multi-family properties that I own with a partner. We have one Master LLC that we both are 50/50 owners of. This master LLC owns 4 LLCs, one for each property. I use quick-books for my accounting.
My question is as follows. How should I structure my accounts? Should I create 1 account for each property under the respective LLC property name or should I create only 1 account under the master LLC name?