Another layer of protection and anonymity.  

The operating company takes on all of the liability that would otherwise blow back on you including: paying property management, paying contractors, collecting rent, marketing, etc.5th pillar is owning everything anonymously.

A layer of anonymity between my family and the tenants.This is not about hiding my identity, I realize that anyone can look at the public property records.

Anonymity.

Most people who called where going through a temporary rough patch in their life (divorce, breakup, layoff, death of a loved one, and so forth) and simply needed an anonymous, non-judgmental ear on the other end of the phone to talk to ("active listening").

@Jared RyanBe mindful that achieving anonymity via LLC's is a bit more complicated. 

An LLC does give you anonymity as far as who owns it if you use a registered agent.

I try to stay as anonymous as possible.I buy foreclosures/distressed properties. 

Also, you may want to add anonymity.

I asked about a land trust, and at least here in WI, I would be sacrificing liability protection for anonymity and it would cost a bit of money to set up.