Let say I have 3 LLCs(one rental per LLC) and I have another company that manages the LLCs. I was wondering if there is a way that the company that manages the LLC is the one with the bank account and not the LLC that owns the house? Is this legal? I say a video saying that is possible but did not explain how? In other words, if they are supposed to be different companies, under what kind of agreement a company will give all its money to another company without getting anything in return? In case of litigations, could this cause trouble with this kind of arrangement?
@Jose C. This is why I really like the Series LLC. I know a lot of people have their doubts but from the Lawyers I have spoke with (if done correctly) it should protect you and make life easier. You really only have to have one bank account as long as you are crystal clear with your book keeping with each series. I think the bottom line is always be clear with what money is going where. Commingling funds can obviously land you in hot water. About the Series LLC
I've looked into Series LLC, and it all depends on what State you are in. For me though, I prefer keeping everything separate...if for no other reasons than I let the bank statement do most of my accounting for me, and this is so new, everything is still "theory" as to how/if it works as designed. This last point is very similar to when LLC's first came out.
Whether such a practice is authorized in your state depends entirely on your state's laws. I would recommend reaching out to a Florida attorney who specializes in Business Law to discuss your ideas with.