At some future date however shareholders or board members of these big orgs may vote to dump the portfolio, whole or parts, and move the money into the next big thing.

Rents must be raised to keep up with the inflation of expenses and provide a minimum return on investment for shareholders.

Your partnership agreements (operating agreements, shareholder agreements, etc) should address bankruptcy.

You don't give enough information about the type of business you plan to be operating, or about your reason for creating a business entity...Without (at least) that much information, there's really no way to know what's best...Additionally, even with that information, there are a lot of nuances (your financial situation, your risk tolerance, potential partners or shareholders, your income outside the business, etc) that are very important.You should talk to a CPA or tax professional who can give you advice based on all the information, not just a couple sentences you provide here.

c) Exceptions The term ''personal holding company'' as defined in subsection (a) does not include - (1) a corporation exempt from tax under subchapter F (sec. 501 and following); (2) a bank as defined in section 581, or a domestic building and loan association within the meaning of section 7701(a)(19); (3) a life insurance company; (4) a surety company; (5) a foreign corporation, (6) a lending or finance company if - (A) 60 percent or more of its ordinary gross income (as defined in section 543(b)(1)) is derived directly from the active and regular conduct of a lending or finance business; (B) the personal holding company income for the taxable year (computed without regard to income described in subsection (d)(3) and income derived directly from the active and regular conduct of a lending or finance business, and computed by including as personal holding company income the entire amount of the gross income from rents, royalties, produced film rents, and compensation for use of corporate property by shareholders) is not more than 20 percent of the ordinary gross income; (C) the sum of the deductions which are directly allocable to the active and regular conduct of its lending or finance business equals or exceeds the sum of - (i) 15 percent of so much of the ordinary gross income derived therefrom as does not exceed $500,000, plus (ii) 5 percent of so much of the ordinary gross income derived therefrom as exceeds $500,000; and (D) the loans to a person who is a shareholder in such company during the taxable year by or for whom 10 percent or more in value of its outstanding stock is owned directly or indirectly (including, in the case of an individual, stock owned by members of his family as defined in section 544(a)(2)), outstanding at any time during such year do not exceed $5,000 in principal amount;"

I was a minority share holder, on the executive team and in the business daily so I have a pretty good grasp. 

An LLC does not exist without its member(s) and it can't have shelf (sometimes called treasury) stock; that is, it can't own shares in itself.A c-corp exists regardless of whether or not it has shareholders, so it doesn't strictly matter whether its manager is a US citizen with an SSN/EIN, or whether any of its possible shareholders are.

My question is will an LLC help mitigate reassessment if the children are shareholders?

The courts find it very easy to go after the major shareholder of a corporation where that shareholder is the only or chief employee and where the problem arose because of the actions of that employee/shareholder.

Creative financing: $880k funded by a preferred shareholder, $400k from my partner and I.