Quote from @Stuart Udis: @Robert Ellis In order for the QOZ investor to reap the tax benefits the hold period has to be longer.

Since I am strictly W-2, would it be smart to consider getting my LLC in order to protect my future investment properties, and while also reaping the tax benefits of having an LLC?""

The investor must consider whether the potential property value increase or other benefits outweigh this loss. 

Their income is also all self-employed and social security benefits.

As Dan said though, there are many tax benefits.

I have sold many seller's on the benefits of seller financing and negotiated on buyer's behalf as well. 

The upper level of society works in ways most of us will never understand...it sadly continues to be a back-and-forth thing of reaction...If our country and Chicago as well could take a proactive long term approach, our kid's kids would benefit in a way we couldn't image....

From a tax perspective, rental properties offer benefits such as depreciation deductions, 1031 exchanges, and potential short-term rental (STR) tax loopholes to offset W-2 income.

This would benefit two-folds by hopefully bringing some profit, as well as making the VA Loan available to use again.

Have a conversation with a CPA to see if you will benefit from the cost segregation before getting it done.