If the rentals are wholly-owned and held directly, or held through a disregarded entity ("DRE"), or held as a fractional direct interest as a TIC, they're probably reported on your Schedule E. 

Where it gets complex is combining properties with different ownership structures.A good rule of thumb is the what needs to be the same is the end TAXPAYER, so for example, we just did a 1031 where 2 separate LLCs (Single-member and thus disregarded entities from a tax standpoint) both owned by the same parent LLC  sold (relinquished) properties and a 3rd and different Single Member LLC (also owned by the same parent LLC) bought the replacement property.   

@Sonya C.if you have an LLC and own investment properties (operate) outside of the incorporated state then you may need to file a LLC tax return in each of those States even if the LLC is a Single Member LLC and disregarded for Federal tax purposes. 

Disregard.

@Michael Plante, It depends on whether 123 Elm LLC is a regarded or disregarded entity and whether or not the new LLC will be regarded or disregarded. 

Basically sounds like you’re putting down an extra $20k for…Him choosing the property (I assume/hope it’s really you both choose or it’s actually to his advantage to pick it, so this I feel can be disregarded.)Him running all the property management. 1) feels like he might get sick of doing all the work and forget why he’s doing it. 2) you’re paying $20k more to not have to do it so how long would it take for property management fees to reach $40k?

Or use an LLC that is a disregarded entity (you are the only member and it does not file a tax return).

-Disregard for containing/blocking off work areas and cleaning up after the job. 

@Brendan Morinwhile the above comments offer some interesting advice, please disregard them.

But for some it works to disregard people when they say no.