First things first
Well first i want to state that each puppet will take up one item/weapon slot. And each attachment to that puppet will also take up an item slot.
Now lets understand one thing, Puppet users are pretty famous for letting their puppet take hits for them but PLEASE PLEASE lets not abuse, this we need to keep in mind puppets aren't indestructible! Puppets may break if to much damage is taken!
Puppet master guide
Academy student Puppet masters
-Only allowed to use One D rank puppet
- D rank puppets may only have 5 Attachments. [if the attachment is a kunai launcher you will also need "kunai" to take up a slot in the puppet masters list]
Genin Puppet masters
- Only 1 C rank puppet OR two D ranks.
- C rank puppet has 10 Attachment slots and is more durable than D ranks
Chunin Puppet master
-May have only 1 B rank puppet OR a D rank and a C rank (at once), OR the *equivalent*.
- B rank puppets has 15 Attachment slots and is more durable than a C rank puppet.
Elite-Ninja Puppet master
-May have only 1 A rank puppet, OR a C rank, and a B rank. (at once), OR the *equivalent*.
- A rank puppets has 20 Attachment slots and is more durable than a B rank puppet.
Jonin Puppet master
-May have only 1 S rank puppet, OR , a B rank and an A rank (at once), OR the *equivalent*.
- S rank puppets has 25 Attachment slots and is more durable than a A rank puppet.
Kage Puppet master
-May have only 2 A rank puppets, OR 3 B rank, OR the *equivalent*.
Which means instead of a C you can have an additional 2 D rank puppets. Instead of an A you can have an addional 2 C rank puppets. And instead of an S rank puppet, you can have an additional 2 B rank puppets.
HOWEVER, you can never trade up, unless you have the required rank.