Primary Residence using LLC Questions

[Jonathan Phillips]

I'm looking to purchase a primary residence.  Due to my profession, I need to maintain some level of anonymity -- i.e. need to avoid people easily searching for my name on the county deed/property websites.  (Not trying to avoid taxes or anything similar)

It seems that utilizing a LLC, established in New Mexico/Wyoming for example, may be the best way to achieve this, as a holding company. Additionally, for estate planning reasons, the LLC would be owned by my revocable living trust. A EIN and associated bank account would be created for the LLC -- and the property paid for by the LLC (no financing associated with this property).

A few quick questions:

a. Are there any immediate or downstream issues that I may be overlooking with this type of setup?

b. Under this setup, if I decided to sell the residence after 2 years, does the Capital Gain Exclusion (Section 121) still apply? (Single Member LLC ("disregarded entity"), owned by my revocable living trust).

Additional note: The State of primary residence does not consider owning real or personal property as transacting business -- thus, registration of the foreign LLC would not be required.