If I was to form an individual LLC for each house I buy, how does it work in the big picture. Is there one company above all the individual LLC’s?
Delaware (and some other states), have something called a “series LLC“, which is precisely for this purpose.
On the other hand, you can simply be a member of many LLCs.
We have major developer clients who are members of literally hundreds of LLCs. They (and their accountants) kill a lot of trees each year at tax time…..but it does work to keep liability for each property isolated.
It’s no different than owning stock in a whole portfolio of companies.