Pros/Cons of an LLC?

I am a relatively new investor looking for some advice…I have just closed on my second deal, and am looking to perhaps make a business of REI. I am curious what the pros and cons of owning/operating a LLC Holding Company. Are there any tax benefits?..such as Capital Gains. I have read many of the posts regarding liablility. Some say have a big LLC with smaller LLCs for each separate investment…Thoughts? I am also interested in a RE investment business…does anyone have any thoughts/experiences with that? Please HELP! :slight_smile: