How would you structure a 25+ rental portfolio?

[Travis Biziorek]

My wife and I have just started building our rental portfolio and plan to add 25+ properties in the next 2-3 years. We're closing on our first deal this coming week and don't have an LLC setup yet.

We're absolutely putting each property into a separate LLC, but would you have a "master" LLC too? I spoke with an attorney last week that "doesn't recommend" a structure like that because he doesn't believe it's "worth it".

I don't want to debate the merits of individual LLCs, no LLCs with umbrella insurance, etc. We're already sold on the LLC structure. But keeping separate bank accounts for each sounds tedious. Does a master LLC allow you to use just one bank account?