I'd say your accountant needs to stay in bookkeeping and taxes and out of lending advice.All banks in all states do loans with recourse unless restricted by law.

Having to deal with all the book keeping I realized I dont like doing the nuances of book keeping for all the properties so good software becomes key at managing tenants.

You would then maintain the integrity of your structure by ensuring your bookkeeping records are clean and each transaction is tagged with which property it is associated with (even though all funds end up in one account).

Hope everything works out in the film business and with your book. Keep

Mainly:pro: asset protection, anonymity (depending on the state), estate planning (fair value gift tax exclusion every year)con: creation and maintenance cost, limit the ability to get mortgage, bookkeeping and tax reporting cost, proper use to avoid piercing the veil.LLC is not a replacement for liability and umbrella insurance.

It is a good book. Keep

One area that is still a little foggy for me is book keeping.

But still waiting on it.I also use Stessa.com to bookkeep and they even have a banking feature now, making it easier to start up an account per property!

What i find at irs.gov seems to work, however my bookkeeper says its not like kind property.

We keep things simple so there is really no confusion on the management of the situation, just the end of year book keeping.