LLC setup for GP and LP

[Account Closed]

So I have found a mid sized multi family property and to take it down I am bringing on a single limited partner to fund the downpayment. I'll be the single General Partner for the deal and already have bought properties in another LLC (disregarded entity). I want to use the first LLC to be the GP for the second LLC and have the limited partner inside that one with a clearly defined operating agreement agreement.

Am I setting this up correctly to ensure protections of both parties and to ensure I don’t mix my previous rentals in with this one?

Thanks, here’s hoping my offer is accepted.  

[Ned Carey]

@Account Closed you are using the term General partner. Is the structure holding the new deal going to be a Limited Partnership? 

What is the size of the new deal and what is the size of the current deals in your LLC? Are you aware you are combining the risks of all your deals into one LLC? Do you want the risk of one deal taking down all your deals?