Long term company setup / planning

[Nate Kinnison]

I have three companies in addition to individual rental property LLCs: Contracting, Property mgmt, and Holding Co. All LLCs. 

The original setup was to have each rental property owned by its own LLC. Then, to have all LLCs owned by the Holding Co. LLC where our capital account also resides (for reinvesting cashflow and buying more property).

Has anyone else used a similar structure or a trust instead of a holding co? Disadvantages/Advantages?

Is the Holding company a waste of time altogether? 

Does placing the LLCs in a holding company establish a "parent company" relationship that would make it easier for legal action of a suing party?