To me, the idea of LLCs is business smart because it not only protects personal from business assets (as well as one asset from another), but really spells out the expectations in the operating agreement and, possibly, a subscription agreement if there are multiple investors.Feel free to reach out to me or members of my team if you want to learn more.

Problem is banks do not like tip income and also I have many expenses for the business so it doesn't show much profit, even though many of these assets (truck, commercial mower, etc) will be paid off over the next 1-3 years.

Depends on the type of property you have, your risk tolerance, your other estate planning, what other assets you may have, etc. 

do you have lots of money, lots of assets that someone would come after you for or do you invest in risky properties that aren't up to code etc...?

@Mark WilliamsThe valuation of commercial asset (which your 24 unit building is) is driven by the NOI of the asset, the building class, the cap rate for that asset class in the area where the building is located and thit is very different from the purchase and sale of residential properties for which the value is determined by the price other people paid for similar properties.it is important to look at the P&L statement for the building you are looking to purchase and verify that it accounts for the expenses and income to work out the true NOI.The NOI divided by the cap rate and divided by the number of units would give you the price you should expect to pay.That price per unit will vary depending on the class of asset it is.Class A commands the highest price per unit and the lowest cap rateClass D commands the lowest price per unit and the highest cap rateNot the precise answer you were expecting but hope it helps.

They care about the deal more because they are asset-based lenders.

($600k over 27.5 year asset life)2.

In other words you're going from two smaller assets to one larger asset. 

Transferring appreciated assets between entities is a fairly complex transaction.

Hey @Luis Marcelino, definitely touch base with @Shawn Washington as he's a brilliant guy and tremendous asset to have on your team.