LLC for Property Management ( Not asking homes into LLC)

[Olive Eagle]

Hello I own and manage 10+ Properties and all have mortgage or paid off. iam not planning to manage any properties owned by others. Please don't advise about putting properties into LLC as i have went thru that route and with existing mortgage no matter what they tell you it's easy to pierce the corporate veil is what i learnt. I want to know should i setup a LLC ( Disregarded Entity) or a S Corp so i can pay some property management fees to that LLC, pay my phone bills, office rents, other expenses as writeoffs ? Looking forward to your thoughts.

[Drew Sygit]

Would only setup an LLC to separate personal and business income & expenses.

So, yes you could set one up and run your PM fees/income through it and then pay expenses from it. You could also them start creating credit for your LLC and perhaps eventually obtain nonrecourse loans in your business name only.