Tax Strategy for College

[Martin Silverstrim]

I'd like to pose a question to the group that's been on my mind. I'm probably getting ahead of myself. Part of my plan is to do something like Brandon did and purchase a rental property that will help fund my kids' college starting 15 years from now. I dont plan on it being my only property. I have no problem purchasing as a family w my wife, but wondering whether I should consider putting it under an LLC for tax purposes. I dont plan on selling anything I buy unless I have to, but I worry about owning it as an individual and being seen as MY asset rather than being sheltered through an LLC. My real goal is to have a few properties or units (between 10 and 20) by the time my kids are 18 (and I'll be 60!) to supplement my pensions and 403b. I just dont want my kids to get no financial aid bc mom and dad own numerous properties; we have 529s for both kids already, but I'm divesting my taxable investment accounts to fund my first deal when that comes along. I know we need to consult an accountant/CPA, but I was hoping to get an idea through BP prior to moving forward. Either way, I plan to move forward in the next 90 days, but dont want any surprises down the road.