Should I set up multiple LLC's
I am about to purchase my second duplex and am wondering if I need an LLC for every house I am going to buy. Talked to an Attorney and he said I need a holding company which will oversee the other sub LLC's. He also recommended having one holding company that owns all the houses and have a large umbrella insurance policy instead of sub LLC'S. The con of multiple LLC's is the yearly fee for each of them. Should I be thinking about this as which costs more annually (I hope to have 10 rentals some day) or which one do you recommend? Final question, I am paying $280/hr for this Attorney, is this reasonable?