Forming an LLC for multiple properties

[John Chapman]

I have over 10 properties with a partner. We are going to create an LLC. I first envisioned having an LLC that would have all the properties in our portfolio. When I saw my tax advisor/attorney, he said another option would be to have a separate LLC for each property with a holding company for expenses common to all properties and to make distributions and contributions. A compromise would be to put half the properties in one LLC and the others in another LLC. Has anyone else gone through this exercise and can shed some light on the positive and negative aspects of the different approaches? Thank you!