@Dave Hart There are no tax benefits to a LLC, unless investing with a non-spousal partner.The taxation of the LLC will just about be always a "pass-thru" entity. 

Regarding taxes, I believe LLCs are pass-through entities, and you will just claim the income on your personal tax returns.

Entities like LLC's are for liability not privacy.

Now for all NON-NAR entities, MLS's, they'd be suicidal idiot's to continue the practice that NAR just lost suit at, because it's a slam-dunk suit to nail them for exact same thing given the now established precedent.     

Best to talk the tax issue over with a CPA but the loss will be reflected in the K-1's and can offset gains in other deals, provided they both flow through to the same entity (or you personally).

If one were looking at house hacking a multi family property, at what point should you set up the entities (LLC and a trust) ?

There are many lenders that will not do loans to LLC entities . 

Hey, I have been searching for the right legal team to assist in entity formation, with anonymity and asset protection top of mind.

I'm looking to better understand how folks who live in CA structure their investment entities that are out of state.

The other thing to remember is that these corporate entities are not saving you taxes on a rental property.