LLC's - What is best?

[Ronda Doxey]

Is it best to set up a Series LLC and then add each house as a separate entity under that? Or just set up separate LLCs.? We are beginning to add lots of houses to our portfolio and want to have the right amount of protection. We don't want one bad apple to bring down the rest so to speak.

Any information on protecting us as landlords and ease of tax prep. is appreciated!

[Cody Backus]

@Ronda Doxey, Generally speaking, a Series would be great for this. However, when you mentioned partners, I just want to make sure you understand how mosts series work.  Will you be using the same partners on all of your rentals? If not, the Series may not work. Utah Series don't allow for different Members on each property or each baby within the Series. If this is the case in Texas, and you want to use different partners on each property, a Series will not work for you. If you are using the same partners on each property, the Series is a great option for asset protection while reducing your accounting costs.