Setting up holding company after 10th LLC

[Greg Todrank]

Searched the forums, but couldn't really find an answer to my questions about setting up the accounting around a holding company.

I currently have 10 rental properties / 10 LLCs.  I have a holding company created and will be working to move the subsidiary LLCs under the holding company.  My question is more of an accounting one.

I currently pay for my bills through each individual LLC account. I'm starting to run into some issues -- for example, my insurance company only allows 7 external pay accounts to be setup. Which means I cannot add the checking account for my latest purchase to pay the insurance. This problem will obviously continue to grow.

I currently pay the holding company $50/month from each property to cover overhead costs not attributed directly to a property.

Couple questions.

- Should that $50 get classified as an expense to the property?  I've bounced back and forth between expense for property (income to holding co) and Transfer-deduction (property)/contribution (holding co).  The "expense" option will make it difficult to see the actual performance of my properties since that money really isn't "gone".  

- If I want to start having the holding co start paying the insurance for ALL my properties, do I do individual payments from each LLC to the holding co in the exact amount of the insurance? That way the expense will show properly within the LLC. My only problem with that is that it starts adding bookkeeping steps.

I appreciate any experience that you could provide.