Holding-Operating Entities within Series LLC
I'm considering a Holding-Operating strategy for MF property management in Texas. The proposed entity will be a Texas Series LLC, e.g. ABC Holdings LLC, and each MF property will be its own series (unsure if I will do a registered or protected series yet).
Is there any problem creating the Operating LLC as a series within ABC Holdings LLC? In this approach does it really matter if the Operating and Holding LLCs are completely separate given the protections a Series LLC provides? I expect a property lease agreement between each child series and the operating/management company (also as a child series) is just as sufficient as two separate LLCs making the same property lease agreement.
My only goal is asset protection so I need to know if this approach will immediately "pierce the veil." Thanks in advance!