LLC Timing for 2 rentals (one owned in NJ & one buying in NH)

[Jim Froehlich]

Hate to clutter forums with another LLC question, but wondering if someone has specific experience/advice regarding best timing/sequence for LLC formation. One of my investment partners has this situation:

Property A:  Multifamily owned in NJ; rental for years under personal name.  Refinancing to pull cash for other investment.

Property B: SFR in NH (to be used as Short-term rental) being purchased cash with property refi from Property A).

He wants to ultimately put both of these under one LLC with himself as manager and his son as an LLC member (with less ownership).

1. Any better ideas for protection/mgt/costs than this path?

2. Does it make sense to just finish this refi/acquisition sequence and then form LLC, or should LLC be created during the above transactions?

I'm going to ask my attorney/accountant these same questions, but wanted to see if anyone on BP has experience/advice first.

Thanks!