Is my Entity Structure overkill ?

[Satyajeet Dodia]

I need some guidance since i have got diff opinions from diff CPAs on my situation. 

I have three LTRs (in TX) owned by a TX Series LLC. The TX LLC is owned by a WY LLC (as per advice/plan I had received from Anderson Business Advisors).

I have one STR in TX and one LTR in NC that are personally owned.

I have a C-Corp (no assets) as the Prop Manager  to manage leasing and rental collection for all 4 LTRs. This was created as part of same plan from ABA. As I understood that allowed me to have an extra layer of liability protection.  No Employees in the c-corp, just officers.

What should be the simplest entity structure? Do I need to re-structure? I do intend to acquire more LTRs in TX over next 2-3 years.

[Chris Seveney]

Quote from @Anthony Dupre:

@Chris Seveney

Would you mind sharing a high-level overview of the structure your billionaire friends have set up? This would help us benchmark and explore simpler alternatives while understanding how complex the structure mentioned above truly is.

I assume they are not actively managing their business? How do they maintain their anonymity?

Thanks so much, and wishing you a Happy Thanksgiving!

Yes they actively manage their business (they have an employee). They are a LLC because its commercial properties. For example 123 main st is a $300M office building that is one LLC. They have 5 multifamily buildings that are 1200 units under another LLC.

 They do not have any anonymity - why? there is no such thing and people think they are a lot more important than they really are. Unless you are super famous on TV and a celebrity you do not need anything. Best way to avoid anonimity is not post yourself all over the TV or youtube etc. 

Let me ask you this question, could you pick any of the following walking down the street:

Andrew Florance, Carrie Wheeler, Bruce Flatt, Robert Reffkin, David Nunes...

Put it this way, if you cannot afford a full-time attorney on your payroll, you do not need to have a complex legal structure.