LLC vs S-Corp/ Too many Properties Rentals?? CPA - Tax Attorney

[Kristen Bouvier Scoville]

Could use some Tax Attorney or CPA advice! Here's what I have.. My husband and I live in a small Western New York College Town. We currently own over 20 properties primarily Student Rentals; 1- (6 unit 1bd), 1-(3 bldg- 20 unit 4bd-2bth) 4 commercial bldg's w/ 4 upstairs apart.s,  3 Duplexes, a Double Cottage on a Lake, 1 Auto Mechanic Garage, and the remaining properties are 4 bd 2 bth single family homes.  

I believe our business is getting too big for us and our little town. No offense to the amazing professionals we have worked with over the years but I have been researching a lot and feel as though we are getting mixed information from attorney's, CPA's & Insurance Agents. We seem to be over paying for various types of liability and umbrella insurances which I believe some seemed to be covered under the LLC's protection and I definitely think we have too many LLC's and should be creating possibly an S-Corp or another type of Corporation that will better fit this large of a property portfolio.

Currently we have over 15 Bank accounts and 10 LLC's and our attorney is telling us we need to create more. It is becoming a management and accounting nightmare!

I feel as though we would have much more productivity without having to micromanage so many LLC's and Bank accounts. We both want equal share in the company and there are no other owners. We use Subcontractors mostly have only a few year round employees. So the structure is pretty simple. He does all the negotiating, contracting, building, repairs, maintenance etc.. I do all the buying selling, tenant, billing.. etc.. we hire out for various jobs..

Thanks so much!! Any advice would be so appreciated!