Best Entity for Residential Multifamily

[Demetrius Davis]

I'm closing on (2) 4-unit buildings in Chicago over the next two weeks. Both mortgages and deeds will be in my name. What kind of entity/entities should I form to hold and run these properties? These will be my first multifamily properties, although I've owned single family rentals for the past 6 years. To date, I've held all properties in my name and used a separate personal bank account for funds, but am now concerned more about maintaining anonymity, protecting assets, and overall structuring the business properly in order to scale the business. Secure PayOne (landlord's assistance) interfaces with the tenants virtually on my behalf. When I'm at the properties, I tell tenants that I work with the management company, rather than that I'm the owner. I've read that I should put the buildings in a land trust for anonymity and as a way to avoid triggering the due on sale clause. Also, that I should form an LLC to be the "manager" of the property, and let Secure PayOne deposit all rents into the new LLC's account. Lastly, that I should get an umbrella policy for asset protection. Is this the best way for me to structure things? With rents going into the LLC, instead of my personal account, will I run into issues when I look to qualify for the next residential multifamily mortgage in my name? Thanks for your help!