So, if you aren't licensed you don't want them to report you to the state because I believe the fines can be hefty. 

It looks like no matter what, my actual name will need to be filed on annual report with the NC LLC (even using a registered agent). 

This is one of their biggest advantages as they often bypass the personal liability and credit reporting of traditional loans.

For example, the National Association of Realtors (NAR) reports that around 10% of home sales occur without being listed on the MLS.

I say biased, because it seems fair and unbiased reporting is a thing of the past.  

Frank - Love this report!!!

However, the exact treatment may depend on your accounting method (cash vs. accrual basis), but most individual taxpayers use the cash method, meaning they typically report expenses when paid.

This is how the rental income is reported on their personal tax return."

If the proper reports and documentation are not completed, you run the risk of failing an IRS audit and the cost segregation not being honored.

Did you also include financials/ POF for the down payment/ credit report/ info on yourself such as your experience level operating rentals, to give the seller more peace of mind to lend to you?