Syndication - LLC question

[Huy N.]

Hi fellow expert!

I'm putting together my 1st syndication deal and getting very confused as of how do you hold the property.

I'm raising the 25% down payment from 4 people to purchase a package of 5 single family house. 75% will be finance by a commercial banker. I heard the recent podcast that you suppose to have your operating LLC and holding LLC to be separated but i'm not sure how it get done exactly without upsetting the bank? Do you buy property under your operating LLC then later on transfer it over to your holding LLC? is your holding LLC suppose to be a multi member LLC or single? If it is multi member LLC, how do you handle taxes? do you have to file tax separately for a multi member LLC? if it is single LLC, how do you prove to your passive investors that they legally have equity in the project?

Thank you!

Huy