Not an attorney, nor a CPA, and I don't play one on the internet, BUT, things to consider if you would want to run revenue through your LLC...The LLC would need to be tied to the property in some way, either as the owner or manager. AND, if the LTRs are out of state, you will need to register your LLC as a foreign entity in the state you are operating in if you are being paid from that state. That amount varies from state to state. For tax purposes, all LLC earnings pass through to your personal tax returns, so there is no practical tax benefit.
If your goal is to grow your LLC, consider arranging all of your properties under an agreement with your LLC to manage them & take all of the legal steps to ensure that the structure is correct. this may involve creating LLCs in the state(s) your LTRs are in to own the property and your PM LLC managing those properties, so that you don't have a concentration of all of your portfolio in one entity. The caveat is that it is dependent on the value of the properties and your tolerance for risk. Ideally, you don't want to concentrate all of your properties into a single entity in the event of a lawsuit against one because it exposes the rest of the properties to that lawsuit.
Ultimately, it's a lot of hoops to jump through and the cost may not necessarily be aligned with your plans.
In summary, it may be better to keep getting paid through your SS, unless you plan to scale your portfolio dramatically.
