The purpose of an LLC is for anonymity or legal protection.

Based on what I have heard/read thus far, it seems like I don't need a formal legal structure such as LLC for running this is as an active business (but I may set up an LLC for asset protection, which is allowed by my mortgage lender).

The LLC only provides basic legal protection.

Brokers can look at tax records but past that they are not going to do title examinations and date downs again thats what title companies are in business for to protect buyers and protect your title..

You may have slightly higher closing fees, but are well protected because you are in title initially. 

Granbury is also very protective of its bed and breakfasts.  

Title insurance protects you from adverse claims, whatever that means.

@James McGovern if I can assume by "undocumented immigrant" you're talking about someone who entered the country illegally, he/she would not be considered part of a protected class under federal / state Fair Housing laws.

You might have an easier time buying a parcel and subdividing it into residential and commercial lots, then proposing the commercial use variance just for the commercial lot.Doing all of this research on your client's behalf is mighty generous and very time consuming for you.

I own properties in two locations over 2000 miles from home and thank my managers every time I talk to them for protecting my interests and putting up with day to day issues that I don't have too.