Business Structure Question

[Anthony C.]

Hi Everyone, 

I have a question on business structure and banking associated with the structure. I am not exactly sure what the right business dynamic is and want to run my scenario through the community. 

My brother and I have 1 property right now and it is in its own LLC. Property value is $750k. We plan on acquiring 2 more properties in 2022; one in 1Q and the other towards the end of 3Q/early 4Q. Those properties will most likely be around 750k each and we plan on throwing them into their own LLCs.

We know putting them into their own LLC require more paper work and little additional cost with filling but to limit overall liability we feel this is the most secure. Our property management system we use is Rentredi and accounting software is Stessa. We plan on using one business credit card for all properties because I can categorize purchases to each property with no problem.

Questions

1. If we have multiple properties with their own LLC can they share the same business bank account if I am keeping track of all transitions within my account software?

2. If I have more than one LLC lets say 3 for this example should I have them all under a parent company (S corp)?

- Side note here, I can get all reporting of each property through my software extremely accurate with minimal adjustments (we are both finance professionals) 

I am open to all suggestions here and feedback to understand what other people are doing. 

Thanks.