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LLCs are disregarded entities for tax purposes, and the default entity status for a single member LLC is sole proprietorship, which means you report the rental activity on your personal tax
return (1040). In other words, if you own 3 rental properties and for each you formed an LLC, you would include the income
and expenses for each on your own personal tax return. Multiple tax returns
are not required.
While you most certainly can form one LLC to own multiple rental properties, it is not advisable to do so. The reason is that you form a single LLC to hold title to your 3 investment properties and a disaster occurs on one of the properties, the creditor could reach all of the equity in all the assets
owned by that limited liability company--all 3 properties.
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