Having all properties in your name without anything else makes you a prime target for one frivolous law suit to take everything you own, including the house you live in!

If not, it will deteriorate rather quickly and thus all the lawsuits.  

Both of ours are owner financed; one a wrap around.We're also not seeing as many foreclosures in either taxes or mortgages; though the tax attorney tells us he has over 3000 active lawsuits pending on properties with back taxes.  

Having a master LLC, imho, ties the sub-LLCs together legally, which seems to introduce more risk should would one be exposed to a lawsuit.  

Tell him he will waste a lot of money and time filing a lawsuit but if he wants to waste his time that's his decision.

Two, if there is ever a lawsuit between the parties, it can help you prove to the judge that you did not waive any rules or terms of the lease.  

The Southern District of Ohio, in Columbus ruled that the City of Portsmouth Ohio’s occupational licensing requirements imposed rental property inspections and licensing fees upon the landlord, violating the Fourth Amendment of the United States Constitution.The successful lawsuit filed on behalf of four Ohio rental property owners and one tenant in the City of Mt.

For instance, having properties leveraged actually helps with an asset protection strategy, because mortgaged properties are much less attractive in a lawsuit.  

Understand too, that if you lose a law suit for some activity outside your business ventures. like a car accident or a hunting accident, your assets are at risk and any and all of your LLCs owned are your assets, this is coming in the back door to attach your assets held, just as if you owned stock in a corporation, that stock can be sold. 

I've been and known other people who've been targeted for malicious lawsuits.