What is the best set up for Series LLC? Checking account and overall structure

[Turgut Oz]

I have talked with two different attorneys. I got opposing opinions on below and wanted to get what others know (or do) on the subject. Please note that this is for a Texas Series LLC.

1. Imagine you have a Texas Series LLC (parent) with five cells in it (children). Does each of these cell need a separate checking account for a reasonably good asset protection? One attorney said it is a must, whereas other said confidently that it is completely unnecessary. He did not oppose to it, he just thinks only the parent series LLC having one account is enough.

2. I inquired about the possibility of a two-company structure: 

A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).

Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.

So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

Thanks