Establishing legal entity

[Aaron W.]

Currently own three multifamily fourplexes (2 in Ohio, 1 in Missouri). Plan to continue to purchase more soon. Currently reside in Virginia.

Working on establishing a legal entity and spoke with one law/cpa firm. They recommended the following entities:

Create a WY LLC for your holding company. This will hold your safe assets, such as a savings account, mutual funds/stocks, precious metals, etc. This LLC is in WY for asset protection and privacy from outside liability. You can also use the WY LLC for a "friendly lien" against the equity in your rental properties.

Create a S-Corp for your real estate business in VA. This S-Corp will be used for management and tax reimbursement. This will allow you to take advance of 280A and 199A tax codes. Also you are able to reimburse for out of pocket expenses like medical expenses, home office expenses, property insurance.

Create 3 LLC(s) in 2 in OH and 1 in MO for liability protection from your passive rental investing.

They want to charge between $9K to $15K for these services to include some ongoing legal and accounting services.

Just want to get a second/third/fourth opinion

from the community in this plan and if there are better alternatives or more cost effective ways to get these same services.

Thanks all! Happy holidays!