Everytime you spend money for each property, you can designate for which property it is so you can record it in your accounting software.The PM company also receives the rents.This simplies the banking and accounting but at the same time, each property is in its own LLC for asset protection purposes.

If you don't understand the language, ask the attorney to explain it to you, that's what you're paying him/her for.An attorney's job is to protect you, don't hamstring them from doing their job.

Hi Everyone,I am looking to start purchasing real estate with my 5 siblings, and I'm trying to figure out the best way to organize our entities to ensure we have both asset protection through LLCs, as well as tax advantages.  

Dry rot possibilities and fire protection systems.

Is water/sewer public or private?

They need to protect the asset and keep their money coming in.

The courts will protect the owner before you - the tax lien holder.You might be able to contact them about buying the property if they list the property for sale before the redemption period is up.

So if you've got a considerable amount of equity in the operating properties, you can essentially strip the equity out of them, furthermore protecting your assets.

According to Chapter Five, “An outright gift of the cash investment is acceptable if the donor is- the borrower’s relative- the borrower’s employer or labor union- a close friend with a clearly defined and documented interest in the borrower- a charitable organization- a governmental agency or public entity that has a program providing home ownership assistance to low- and moderate-income families, or first-time homebuyers.”

- Will public roads/streets come into play?