There is no correct answer here. This is all about your personal tolerance for risk.
However, the purpose of an LLC/LLP structure is asset protection. The overall strategy should be to segregate assets. Therefore, if you have all of your properties held in just a single LLC/LLP entity and you are sued, all of the properties would be subject to a judgement creditor in a court approved claim against you. With that in mind, is it wise to have multiple properties in a single LLC/LLP? Many individuals will do so because they do not want to pay the annual fees and deal with the administration of multiple LLC/LLP entities. In the long run though, it would be in your best interest to break up the assets into separate LLC/LLP entities and just view the additional annual fees as added “insurance” in the event of a lawsuit. In this scenario, if you [Read More]