How does this business structure sound?
I talked to an attorney who looked over my current situation (1 LLC) and recommended instead of having one LLC holding 15+ properties to divide them among smaller LLCs that contain fewer properties to separate them in case of a lawsuit. He then recommended having one LLC that owns those so I do not have to operate out of a different bank account every time. I then talked to an accountant who recommended I do the same thing but instead have the primary LLC that owns the others be a management company as well to change the income to favor more write-offs. Has anyone heard of anything similar to this? Do you do something similar? Any questions or concerns I should bring up? Complications with this?
I can provide more info but I was curious if any of you might have some insight on these suggestions.