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How many rental properties should be held in a single LLC?
I am trying to determine the best way to determine how many properties should belong in a single LLC? What is the proper criteria to create a second LLC? I have less than 10 properties now but plan to grow every year in the same state. I heard it is also smart to add a second person you trust to the LLC and give them 1% so legally if you get sued it would be much harder as it belongs to multiple parties. Another issues is filing taxes for each LLC that you create could be another burden. I plan to chat with an RE attorney but any help would be great in the meantime, thanks!