How to place property in an LLC
We own four rental properties in central Florida and have had some conflicting views on how to protect them via an LLC. Initially we were going to get a separate one for each, but then a well-known real estate investment guru my wife has ghost-written some material for suggested we should put them into a single LLC holding all four properties in separate land trusts. Since then we have consulted a local real estate attorney who consider the LLC/trust scenario an overly complicated one, and that we should just go with our original notion of simply having separate LLC's for each property.
Has anyone ever gone the land trust route? The lawyer felt that it would still work, but he was wary of the fact that a judge might view the situation with suspicion down the track if we were ever sued - I thought it a little odd to say that, because either option is all about asset protection.