Their logic of income tax sheltering and tax-advantaged appreciation for them isn't wrong, and it makes sense for them given just how much of their income they currently lose to Uncle Sam, but that might not be right for you.That's a very different set of criteria than someone looking for cashflow, someone that isn't already very high income, someone looking to use RE to build income and wealth rather than merely using it to shelter existing income and wealth from taxation Trump-style ("I pay very little in taxes" says the billionaire).

The only time it would have to file in FL would be if it (the S corp itself) owed Federal income tax at the entity level.

- If this is a single member LLC taxed through my personal return would this save taxes by avoiding double taxation?

UDFI taxation would only apply if the syndicated deal uses debt-financing in addition to investor capital.

I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

If the pension is from a former employer, you should be able to roll it over to a self-directed IRA (Roth) which would allow you to utilize the funds for real estate investment and not be subject to any early distribution taxation.  

(in FL)From a tax standpoint, I understand that a single-member LLC has "pass through" taxation anyway, so any distributions from the LLC checking account to me, as the sole Member of the LLC, doesn't have any tax advantages, but only adds a layer of complexity.3) If I wanted to deduct the "costs" of running the rental properties, would that be best done on my personal taxes by taking deductions for home office/saving travel expenses or do I need a separate business entity for that?

Get help from an attorney and CPA to make sure you understand the goal of the trust and the taxation associated with it. 

(same filing as any IRA).If the LLC has exposure to UDFI or UBIT taxation through the use of leverage or engaging in a business then you would certainly want a CPA to help with the required 990-T federal tax return and any state equivalent.

Their LLC membership can distribute capital gains, losses, and equity however they want, possibly based on their taxation considerations, without regard to you or your investment.