Starting an LLC: How to Structure with Three Properties

[Jason Warner]

Hi: 

Together, my wife and I own and manage three rental properties - a house, a condo and a duplex.

We (belatedly) are in the process of forming an LLC, but we've heard competing advice. On one hand, we've heard that we really just need to have one LLC under which all three properties will be held, though on the others, some have suggested three separate LLCs, one for each property.

Any advice on the most appropriate strategy, or considerations that we should make in deciding which approach to take?

Many thanks in advance.