What name to buy in?

[Bryant Marshall]

I have a friend with an old LLC that he uses for his main business but would like to purchase rental property. His main business is a 7 figure earner so I'm thinking he should definitely separate the two entities. Which name do you suggest he use to purchase the investment property? Old, LLC or New, LLC or use his first and last name?

If you suggest New, LLC should he make a contribution from the Old, LLC to the New, LLC and if so what are the tax benefits?