Taking out money from LLC Account

[Patrick Nuciforo]

Fellow investors.

I own 3 properties right now in my perosnal name. I do have a seperate bank account for those 3 properties (3 properties share one account) that is not linked to my personal account.

• Question is when I complete the transfer of these properties into the LLC can I take any profits or transfer any money from the business account into my personal account? Is it allowed are there tax impications?
• Do I need to have a seperate bank account for each property or can I have the 3 properties share one account and just keep good spreadsheets?

I'm sure it hsa to be ok to pay yourself incase you needed some extra money from your own business right?

Thanks