setting up an LLC strategy for rentals
My husband and I have 4 rental properties in our personal names, and we are trying to get funding to purchase additional properties to build our retirement passive income portfolio. Some investors tell us that these properties should be in LLCs instead to limit liabilities on our personal assets. I believe we can do that title change with our attorney, however, I have several strategy questions as we plow through the options. Should each house be in its own LLC or all combined in one LLC? Or should the LLC have a home value cap, and if so, what amount? (I heard Clayton Morris in a podcast say $150K max in each LLC.) If the properties are separated into different LLCs, do we have to have a master LLC to move funds into so we can withdraw funds monthly (again heard Clayton Morris say that in a podcast)? Or can withdrawals occur from each LLC direct to us? This newbie in NC needs help! :-)