are there any disadvantages to having my LLC manage the properties that I won in my personal name to formalize things a bit? this way, the rent checks would now be payable to my LLC.
The only disadvantage is a tax one if you are taking out active income. Then you will ad 15.4% or thereabouts to your tax rate. For holding title it is really the best protection you have and you can do this with an S corp holding membership in the LLC or by managing throught he S corp.
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I've been told several times from local REI seminars that you want to hold your rentals with an LLC and you want to manage it with an S-Corp.
The only disadvantage is a tax one if you are taking out active income. Then you will ad 15.4% or thereabouts to your tax rate. For holding title it is really the best protection you have and you can do this with an S corp holding membership in the LLC or by managing throught he S corp.
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