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Advice needed from anyone who uses series llc
After talking to a lawyer, we are pretty sure we want to set up a Texas "series" llc to hold the rental properties and another LLC to manage the rental properties that we have but there are some issues that boggle my mind about it, so help from anyone who is actually managing their properties this way would really be appreciated.
My questions are: 1. Do you maintain a separate bank account for each property in the series LLC? 2. Do you pay a fee to the managing LLC for each property it manages? 3. How do you take distributions? From the holding llc or the managing LLC? Thanks in advance on a very confusing subject!