As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Can you please share them with me. 

It occurred to me today that I've never asked about umbrella insurance claims.I’m particularly interested in real-world examples where this type of policy came through during:Property damage (fires, storms, floods, etc.)Liability claims involving tenants or third partiesMajor unforeseen eventsIf you’ve ever had to file a claim and your umbrella policy saved your bacon, I’d love to hear:What happened?

If you continue filing taxes jointly the income you realize from your separate property will still need to be explained and redacted, regardless of the type of entity holding the real estate.

If the seller files for bankruptcy, that will involve you in a legal proceeding.

She was paying rent when there was a landlord that would file for eviction.

Needs: accounting, tax filing, commission, payout feature to owners at the least.

They've been very underhanded and petty though, I do expect a court filing if we simply ignore.

An Excel file or other detailed record-keeping system would okay, as long as it accurately tracks your hours spent on real estate activities.