This is a mess: Series LLC, Short-sale, Section 8 grrr
I got a new Series LLC (Delaware), and I am closing on a short sale on Nov 6th, and the property will go into the LLC as its own series. I plan to put section tenants 8 in the house. The short-sale property is currently in my name. I want to put it under the LLC for asset protection. So, I have a couple of questions for those knowledgeable:
1) A series only exists in an operating agreement which is on my computer and that's it. I got mixed advice on whether each series needs an EIN or not. I prefer not so that I don't have to file individual series Federal taxes. Can I get an EIN, and not file Federal Taxes for the Series? I will still file the LLC taxes off course.
2) Are we required by law to use a specific format for the name of a series that is holding assets? For instance, do I need to call the series "Real Estate llc" Series"Address" OR can I just use the address as the name - which is a proxy for whatever the heck I want?
3) Section 8 requires "Landlord" is the landlord (a) the owner of the property or (b) the property management company? The property management company is a series within the LLC
Many thanks!