best way to isolate risk of each rental property

[Lynn Y.]

My question is about how to best organize many rental properties to provide best shield towards potential law suite.

From this forum, I read about multiple properties (mortgage free) under one LLC; or one LLC for each properties, which leads to multiple banking accounts/contracts/filing to manage.

Another thought from this forum is having a separate entity to "hold note" of the properties under 1st LLC, so that the 1st LLC only appear to have very little equity when a law suite arise.

Does this separate entity have to be a trust? Can I form a LLC (me as single member) to hold notes of property of another LLC (me as single member). Does that better protect me from potential law suite.

Is it a valid scenario that I have one master LLC holding notes again all other llcs (each has one or two rentals), but I make the management a little easier by using one master LLC bank account to do the common expense. If I lost in court and exceeded insurance coverage, does this scenario better protect me that I only lose maximum (say 5% of the property value) of the 1st LLC (as rest are holding by a master LLC?)

I hope I asked my question clearly.  All rentals except two are in connecticut.  I guess state can be different.

Thank you for any comments you can share.