Buying 4 to 6 rental properties in Memphis - cash flow is the immediate goal, capital gain/appreciation will eventually follow.
Have read about the Nevada Series LLC - A Nevada Series LLC is an umbrella LLC with fire walled LLC’s within it.
The LLC can have one tax return or many, depending on the ownership. If the subsidiary cells are owned by the parent LLC which they would be, then would it be a consolidated return?
Is there any advantage or disadvantage in this kind of set up legally and/or cost wise
Your NV LLC would have to be registered in TN, which not only doubles your cost and hassle, it may cause legal problems if a suit is brought in TN and your LLC is based in NV.
I’d suggest you have a TN atty answer this question.
Sounds too complex for only a few properties. Keep in simple and file on LLC in NV or in the state the property is located in. Get decent insurance and you’ll be okay. To much confusing entity structuring upfront is not needed. Make sure to register your LLC to do business in the state the property is located, if you decided not to form a local LLC.