LLC for rental properties

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Hey guys,

I'm new here, and I have a question about the way LLCs should be set up and how they are taxed.

I am thinking of investing in a duplex, and renting out both units. When forming the LLC, I am wondering should I form it as a disregarded tax entity since I would be the only member of the LLC? Or should I apply for an EIN, since this way I could separate my personal and business accounts. And when it comes time for taxes, I am wondering which schedule needs to be filled out for reporting income and expenses(Schedule E or Schedule C)?

I feel like a complete newbie, but couldn't find a sure straight answer for my questions through the search.

Please help a less experienced investor!

[Michael Rossi]

kbrady,

I am not a tax expert. I pay a very smart lady to do my taxes. However, my understanding and experience is that the LLC will file its own return and the profit or loss from that return will show up on your 1040.

Mike