Hey Alonzo,I am also looking to buy and hold multiple properties.

Any opinions...this would be in the instance there are multiple applicants for a single property and only one is chosen...

It's better to have multiple sets of eyes on it...always.

I'm working with multiple analysis tools as well as my own custom one to try and analyze properties to purchase.

I pay 7%, full months rent for finding a new tenant, flat fee ($100) for processing a renewal, and half-months rent if the PM manages (eg; gets multiple bids, contracts out the work, etc.) any turn-over repairs, or I can do that on my own.I've got 10 properties with them and average 2 vacancies per year, so my effective rate to them is 7% of rent-roll + 2 months rent + $800 + 1 add'l month rent (2 x 1/2) for managing turnover repairs. 

The scenario that they are trying to prevent by having multiple LLC's, is if a person is injured or killed on their property and they are found liable, they can only come after the LLC and whatever properties are under that LLC.

Should one LLC own multiple rental properties? 

I probably could talk them into multiple properties.  

I was reading around because I'm looking into seller financing on multiple family units.

We love it here in California, but do not think it's appropriate to buy here, since I could get multiple income generating properties for the amount I would need to purchase our primary residence here.