Should we set up a simple LLC in Ohio? 

Many new investors claim to have analysis paralysis, but that's usually an excuse for either a lack of confidence (you need more meetups and more authentic relationships with other real estate investors) or shiny object syndrome (you want to house hack, but you like apartments, but also flipping, and what about storage).

Why would they give you money in that set up?

Encourage him to set long-term goals, connect with mentors, and use educational resources while keeping the learning process fun and balanced with other activities to prevent burnout.

We have several rentals and a set of business cards associated with each one.

Congratulate them—they now get to file two sets of tax returns and pay the associated taxes for each.Confirm all of this with a lawyer if it bothers you.

Bc entropy sets in and as humans we all have a tendency to become lax with time.  

make friends.there's no rush. the worst possible thing you could do would be to put your nest egg into something and lose some of it and set yourself back.

@Richard NguyenI just set up my first SDIRA a month or so ago, so I haven't had enough time to speak too much about experience, but the company I'm using (recommended by my CPA) doesn't charge AUM type fees. 

OP the good thing about BP is varying opinions and also objectives.