I actually came across BiggerPockets during my search for info in the first couple of months, disregarded it then since I wasn't looking to be a REI then.

It's ridiculous what grown adults will actually spend time fighting over...If you're renting the whole thing to one person, obviously disregard.

@Jonathan Rodriguez  Is that better than filing as a disregarded entity?  

Personal use also includes time spent at your place by another party under a reciprocal sharing arrangement (“I use your place in exchange for you using my place”) whether the other party pays market rent or not.Days devoted principally to repairs and maintenance are considered days of vacancy and are disregarded, even if family members are present while you work away.The tax drillVacation homes in this category are treated as personal residences for federal income tax purposes.

.), it is much more likely that inability to control spending and disregard for the sanctity of credit payment promises is the reason for their predicament.  

Create an LLC for asset protection but treat it as a disregarded entity for taxes - i.e. report it on your personal tax return, just like you already do with the existing property.

FWIW, these rental properties are set up as single-member LLCs ("disregarded entity"), as passive income.

If I'm reading you correctly it is I had thought and S-Corp losses in a QSST are passed through to the beneficiary's tax return "as if the trust is disregarded".   

Some of you are very young and just have not experienced it yet, but the ignorance of youth is no excuse for treating others with careless dis-regard.

And BTW, what would be the consequences, if any, if I just disregarded all this and filed the normal 1040 with 'person is deceased' checked, like I did when mother died?