Long post here, bear with me please!Hey everyone! Here's the scenario:So let's say I recently purchased a first home at $185,000. It is a 3 bed, 2 bath in very good (move-in ready) condition with a driveway, good size...

Hi all, I've been looking for about a week now in Los Angeles for an attorney who specializes in entity formation, with experience geared towards real estate.We are establishing a multi-member LLC as a parent company, with separate single-member LLCs (the single member being the parent) for each property, as a subsidiary held under the parent.

. - Do I need to setup an single member LLC?

This is what we did in a 2 family to single family  1908 flip that had an old crumbling useless fireplace on the first and second floors. 

This is true for all properties whether they are single family or multifamily, and even the larger multifamily properties and apartment buildings have extreme competition.

My goal by end of 2019 is to be entirely out of single family, have 1 or 2 NNN properties valued at $5MM, and to have $1M in equity deployed into passive syndications.Having a payed off asset 30 years from now is not as enticing as the prospect of not having to deal with tenants ;)

My plan is to do this with a single family home with a detached garage or a smaller unit detached for me to live in.

Are multi family and single family homes the only way to go?

We want to take out single family and multi-unit portfolio to the next level in our area.

It‘s a single member LLC