Multiple bank accounts on LLCs ? holding structure question

[Jonathan B.]

Hi Guys,

Currently own multiple properties (Sfr),

they are spread out into various LLCs, having couple of properties in each LLC.

these LLCs are all owned by and a subsidiary of a 1 holding LLC.

Rent is currently flowing into 1 bank account, all expenses and income are being segregated and and accounted for with QB and works well.

Ive been reading that each LLC should have its own Bank account.. i feel this would be a pain to do..

What do you suggest doing? 

how are you structuring your holding?

appreciate your insight.

stay safe.

[John Warren]

@Jonathan B. every attorney and CPA I have spoken to has always told me that I should have separate bank accounts for each LLC. I am pretty sure that if you commingle funds in one account then you may be making the whole structure sort of pointless as an attorney in a law suit could claim that you aren't really running separate businesses.