For residential SF, duplexes, triplexes, or quads, this is my (non-lawyer) experiencePros for in your name:  1) Easier  2) Access to better financing  3) You don't have to worry about due-on-sale clauseCons for in your name: 1) Extra liability exposure if any claim exceeds your insurance liability coverage 2) Lots of phone calls from people trying to buy your rent property 3) Lots of phone calls from people trying to buy your rent propertyPros for in an LLC 1) Theoretically unlimited liability protection from the property in the LLC if it is manage correctly 2) Greater potential for anonymity if you are willing to incorporate in certain states and pay for Resident Agents 3) It feels cool to have a companyCons for an LLC 1) 50% of people don't do it right so they really have zero LLC protection  2) It costs more, both in terms of financing and annual fees (if you do it right)  3) LLCs provides your asset no protection against something YOU might do (like crash a car) while umbrella insurance can provide protection for you from your property and for your property from things you might do.

Land trusts and trusts are new to me, and i have heard the anonymity is solid, since the record of your name only resides in an attorneys computer.

I would definitely recommend setting up an LLC, also I strongly recommend setting it up as an anonymous LLC.If you plan on holding multiple properties in one LLC, then it may be worth looking into a Series LLC, as it has unlimited scalability.

I don't know who teaches this stuff.An LLC is useful for two things: anonymity and legal protection.

The fifth pillar is owning everything anonymously.

@Buddy Patrick - in most cases, trusts do NOT offer asset protection, they just provide a layer of anonymity, hiding from public records the true owner of a property, but without offering liability protection.

However, at your death, you avoid probate completely.A land trust is a different kind of trust, and for these ones, you want a different trustee (for anonymity on the property records and also to avoid the risk of voiding the trust), and usually your beneficiary would be an LLC.

You can also make some anonymous inquiries to your local zoning and code officials as they will let you know right away how friendly the local authorities are to each type of venture.  

An LLC is useful for two things: anonymity and legal protection.

Assuming anonymity is a goal.