Advantages of forming a business entity / LLC

[Leon Panokarren]

• I should preface questions / thoughts below by saying I am a total noob at real estate investing. 
• * As part of exploring properties, should home inspections turn up unfavorable findings making sales fall through, it feels the “cost of doing business” can add up quickly. Are there ways to offset these costs? Is this available as write offs to business / LLCs?
• * Are there other advantages of forming a business / LLC for rental investments? How do you all think about this? Are there some costs of an LLC that (without the relevant advantages) make a reasonable argument against business / LLC?

Would truly appreciate your insights and guidance!