Don't need an LLC, which adds to the cost (for now since everything is in a trust and I have an umbrella policy for liability, eventually I will get an LLC where I can spread the costs out)I wanted to get everyone's thoughts on this.

I'm trying to buy, fix, and rent real estate and created an LLC with my partner who is putting up most of the capital but he will not handle operations at all.

Ally does not offer commercial checking accounts and the personal checking accounts are only for personal uses.Do you have an LLC for these properties?

In 2018, after four years of no reports and membership payments, Vantage IRA sent him a 1099 notice saying that they had distributed the full amount last reported in 2014.Additionally, my friend filed a chapter 11 bankruptcy July of 2014, shortly before his arrest.With this being said, my friend never received the disbursement, Vantage IRA is still the member of the 7 LLC's contained within the account, and the LLC's were never closed.

I was told that you just form a standard LLC and I would just list my current LLC as a managing member.

When I had my lawyer set up a few of my LLCs, I used my home residence as my LLC address.   

One LLC or two at most.

An LLC is not free.

When would you suggest to establish an LLC for your portfolio?

LLC for Foreign Property: - Is it necessary to form a new LLC specific to the foreign property, or can it be owned under an existing U.S.