There are things you are supposed to do... not combine revenues between the different LLCs for instance... otherwise a lawyer can "pierce the veil" as they call it and try to say the companies are related.  

The more you blur the line between your finances and the LLCs the greater the chance that there may be an attack to pierce the veil. 

I just looked at one today over off of Pierce Street in Clearwater 7BD 2 BTH Duplex 2 minutes from Beach Listed at $525K with wiggle room. 

You need to keep all the LLC finances seperate from your personal including insurance to avoid the possibilty of someone's ability to pierce the corporate veil.

It's easy to "pierce the corporate vail" if you don't have a business account, that collects the rent, pays the mortgages and any other costs.

Pierce somewhere.

@Bruce C.I think there are 2 things that we should discuss here.Keeping personal and business accounts separate for limited liability purposesone of the reasons for creating an LLC is to limit your liability exposure.Commingling funds between personal/business can pierce the LLC and you can lose the purpose of the LLC.You should set up a trail that you indicated items paid from your personal account were contributions to the LLC and possibly have your business account reimburse your personal account.Another issue might be if the property isint in the deed of the LLC - if you even have protection.capturing expenses for tax timeIf you decide not to reimburse yourself - just let your accountant know what expenses you paid from your personal and business account that went towards your rental property.He will be able to properly classify it on your tax return. 

In my layman's opinion, I think that just further co-mingles your affairs thus piercing your corporate veil, and thus your asset protection.  

There are some pros, but also some cons.Pros: LIMITED liability protection (but everything related to the property has to be separate from your personal accounts - talk to a lawyer), potential for anonymity Cons: Several hundred dollars per year in fees (at least in Maryland), refinances are more expensive, potential for bank to recall your current loan under the "due on sale" clauseAs far as "how to make it happen" if you do choose to go this route:1) Create the LLC through SDAT (relatively easy process)2) Get an EIN from the IRS (also relatively easy)3) Open a bank account for the LLC4) Open a new email account for the LLC (communicating through a personal account could "pierce the corporate veil"5) Find a title company to do the transfer for you (Universal Title White Marsh has done this for some of my clients)

It only extends to the individual if the corporate veil is pierced.#3) Each property DOES NOT have to be under a different LLC.