Individual LLCs and/or Holding Company?

[Greg W.]

If you have one property, you put it into an LLC, get an EIN and a business checking account for it and run you income and expenses through it. No problem.

Now say you have 35 properties and each are held in individual LLC's for tax/liability purposes (Please don't debate the individual LLC point). If each LLC would need it's own EIN and business bank account, management of these entities and accounts would become an administrative nightmare rather quickly. There has to be a better way! But what is it?

Addam Driver had a blog post on this recently that seems like the answer but would like others to chime in and give their thoughts. James Hamling also had an interesting post on this which seems to imply double taxation using an S or C Corp but is a different strategy than Addam's.

Can anyone provide some clarity on how best to structure for asset protection, taxes and administrative burden?