Each series llc can have its own members, assets, liabilities, contractual agreements, etc.

I'm looking at the asset and RE as a store of wealth (as part of my overall investment portfolio) to pass onto my kids.

Thanks a lot for the replies @Chris Mason and @Gregory SchwartzOur lender said we can do a bridge loan but its around 11%.. id bring in 20% downpayment max, dont want to put too much personal assets into it and the issue is for yr1 w low rents and renovations its def a monthly -3-4k loss. def want an 8% or lower rateNot sure if lenders are ok with an initial cashflow loss, once its renovated we can have market rents and its a great deal after. it listed at 1.495M and we'd offer 1.2-1.25M. i understand the living in part doesnt necessarily bide well with investment focus, but for us thats a big appeal that its in a nice area to even live in

I don't know.So for $56,000 dollars down plus (an estimated) $7,500 in closing costs plus another $5000 in furnishings, you get an asset that produces about $500 dollars a month. $68,500 / $500 per month = about 12.4 years to get back the intial investment.  

What scared in the article is the mentions of personal financial risks, LLCs not really protecting your personal assets, the amount of investors filing bankruptcy , social threats, scams, etc.Is this article over blowing these facts, trying to sell REIT ?

Long story short, I have been selling assets and plan to move back into the lending side of the business... 

You have to try on a few assets and see which resonates with your future plans, even before investing in them.

Benefits of an LLC: Forming an LLC can help separate your personal assets from your rental properties, providing an extra layer of liability protection.

What type of asset class will you be investing in? 

You need to look for a Securities Attorney (not a real estate attorney)As @John Sayers mentioned, you can get ownership with a GP by doing other things, like bringing the deal, asset management, data research, etc.