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Updated 4 months ago,
Suggestions for a STR LLC strategy
Hi. I understand the pros and cons in general of LLCs. I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy. That said, I do have significant personal assets I don't want to put at risk so I have one LLC for my two rental properties and keep all accounting separate. I understand that having two in one LLC puts both of those at risk. Here's my question, I'm looking at purchasing a 3rd property. Together with the other two, the value of the three will be ~$2.3M. I'm thinking it might make sense to start a separate LLC for the 3rd property but the thought of the work and costs associated with it alone makes me reconsider. I'd also have to get a separate liability policy so another expense. I'm in FL so I can't do a series LLC. Thoughts or recommendations?