Entity formation: worth doing it myself?

[Alex M.]

Hi all,

Im wondering if it makes sense for me to try to set up my own legal entities... I just got quoted $1500 per entity not including filing fees to set up an LLC, and was also told to set up an S-Corp management company "to attempt to shift the liability from the asset holding entities to the management company." and that "You probably should consider a management agreement that contains indemnification provisions for insurance claim purpose as well."

I have 3 short-term rental properties in TN, and run a dozen airbnb rentals out of NYC on leased properties.  Im looking to continue buying more short-term rentals in TN, and perhaps in other states in the future.

Love to hear thoughts on:

1) If I decide the LLC is the right route, does it make sense for me to try to set it up myself as a learning experience or sucker up and pay the man?

2) Is it hard to set up the S-Corp management company on my own or is it best left to the experts?

I want to avoid paying thousands to set up these entities, but do want good advice in terms of protection and specific to short-term rentals.

Thank you