BTC is a protocal created by an anonymous entity and is now entirely run by the people who make up the ecosystem.

I had well over $1 million in assets before I even considered setting up an LLC.An LLC is useful for two things: anonymity and legal protection.

That was the minimum fine back in SoCal just a few years ago.I'd make an anonymous call to your local building department and ask them how to remove it, and then make your choice.

Everybody knows everyone's business - there is no such thing as anonymous investing here!

I understand that the benefit of structuring in this regard is to add layers of anonymity, create some versatility, and structure so that in event of lawsuit all of our assets are not  exposed. 

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

Sure, but land trusts offer less legal protection.Land trusts are more to provide anonymity and easier transfer of ownership after death.  

Code violations are anonymous, so it could be the neighbors reporting them, or maybe the city is just doing their job?  

So you're not completely anonymous.

There is more that goes into the formation because it needs to meet different needs for different investors, but establishing it under an Agent Trust can allow for anonymity on public filing when done correctly.It's important to get advice specific to your portfolio from an experience attorney and CPA.