CPA Suggested Using 2 LLCs

[Troy P.]

Hi all,

I'm relatively new to REI and extremely new to business entities. I took the advice of so many others and sat down with a tax advisor and attorney. I'd like to put the protections in place now to shield current and future assets. My CAP suggested creating a holding LLC for each property and a Property Management LLC to collect and distribute funds. Has anyone heard of this strategy and actually deployed in their own situation? This seems like a management nightmare having to keep track of 10+ books, filings, articles of organization, etc. and I'd like something that I can manage more easily myself. Is it still worthwhile to create a single holding LLC for all properties with a separate PM LLC to perform accounting and true business duties?