Holding Company & Sub + Bank Accounts

[Kay Si]

I want to create a holding LLC to own REI properties. I am interested in flipping and sometimes I'll hold and rent.

Should the holding company literally hold (deed and title) in the holding company's name or should the actual property be owned by the sub LLC. The hold if company will 100% own the child LLC's but I wasn't sure what LLC has the deed.

Also, why would a holding company need an bank account its not operating?  I am just unclear how this relationship works.