If the goal is for asset protection then you would want to form a LLC and subsidiaries if you have more properties.

From what I read, the big banks like BoA, WellsFargo will not open account for a subsidiary LLC.

The plan is to form a "parent" LLC*, then "subsidiary" LLCs in each state where I own properties.

Stessa was acquired by "JLL Spark", which is a subsidiary of the investment behemoth, JLL. 

We are fairly well versed on what our Canadian bank(s) subsidiaries can do for us in the U.S.A.

The cost of which likely far exceeds the cost of insurance.If you are determined to move forward as you outlined, you form the "manager LLC" first, and then the subsidiaries.

That being said they may use subsidiary companies for their transactions or funnel their business through a specific title company. 

The AMC, a subsidiary of the lender - how is there any objectivity here?

@Chris McKay I have been researching some more plans and I came up with starting a holding company LLC as a parent company for each of the subsidiary LLCs that will on their own protect each property separately with this I will also be able to utilize an S-Corp which will be attached to my Holding Company LLC and each subsidiary LLC will transfer the funds into the Holding Company LLC to cut down on my self-employment taxes by paying myself a W-2 along with dividend distributions paid out to the owner aka myself throughout the year.

That's the reason I'm leaning me more towards having a Holding company and subsidiary LLCs.