Self Directed IRA - Two Accounts 1 LLC?? Help!

[Joe Arida]

Hi BP fam!

I am setting up a Self Directed IRA and am just getting the operating agreement taken care of. I've been advised that the following setup is OK:

• I have two SDIRA accounts, one Roth and one Traditional. Both rolled over from respective 401k accounts.
• Both of these two accounts will be members in a single LLC, with each ownership percentages reflective to their contributions.
• I am then the manager of said account, with checkbook control and can invest how I see fit.
• The operating agreement already states the necessary clauses about UBTI and UDFI.

The problem is that when I told the person writing my operating agreement that there would be two members she was very skeptical that this is OK. This has happened when talking to a couple different places and explaining my setup. My adviser has reassured me that it's fine but the skepticism has me a little freaked out. Also I everything I read mentions a single-member LLC and this would then not be one of those. It's not too late to change the setup yet as I haven't funded the bank account yet.

Can some other SD IRA expert help me here? Is this OK or are there reasons I should not do it? Or is it totally not OK and my adviser is incorrect?

Thank you very much in advance!

Joe