Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

More Buyers, Less CompetitionWholesaling relies on a limited pool of cash buyers.

Some localities have limits, some don't. 

If someone is walking down the street and trips on your sidewalk or a  walk way whether its a tenant, delivery person or passerby you are the one who gets sued because its premises liability exposure.

Therefore, working with a single real estate agent doesn't make much sense as it will limit you to his/her very limited inventory and he/she might have as main objective to sell a property to you take advantage of your lack of knowledge of the market.

From real estate investors to other small businesses, I talk to people daily who have no idea about the potential liability under the Telephone Consumer Protection Act ("TCPA")(47 U.S.C. 227 et seq.).There are two initial issues that can create huge problems with your suggestion.

Back to the DTI, if you want a quick down and dirty way to do it, start with the bottom line 24 on the 2024 return, then add back in Depreciation (line 18), and possibly interest expense (lines 12 and 13) IF it's also counted against your debt in the liabilities section of the application.

Additionally, the property includes an outdoor swimming pool.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

I track the principal as a Liability account in Xero, and whenever I add it to a report, it always shows the current balance, rather than the change over the chosen time period (like with expense accounts).  

Since you are renting out part of your primary residence in Maryland, your main concerns should be liability protection and tax compliance rather than complex asset structures.