WY LLC as holding company, TX LLC holds title to property

[James Siller]

Question on several fronts with WY LLC's being involved (out of state). Property is in TX, and title is held by Tx LLC, holding company is WY LLC.

What is the proper way to handle money being distributed by the property? Thru mgmt company, to TX LLC, then distributed to partners? or should it go thru WY LLC, then to partners? Trying to not set myself up for failure or allowing piercing of the corporate veil.

There will be another LLC that handles the day to day management. Does the income flow thru the WY LLC? Will I (the WY LLC), be subject to income taxes in WY, even though it's a passive entity?

Any other pitfalls to using this strategy that I haven't thought of?  Is anybody else using this strategy?