It is what the IRS calls a disregarded entity. 

It’s disregarded for tax purposes so it won’t help your personal finances.

Sorry, I missed the first words skimming, so disregard my previous post.In addition to Joel and Peter's comments, getting involved with 3 lenders is not a good idea, who ever is in 3rd position would have to payoff senior liens if there was a default.

If you are married filing jointly isn’t the LLC a disregarded entity for tax purposes?

The filing, it depends on how you are taxed, sCorp, disregarded entity, etc.2) I don't understand the question.Ultimately, just talk to your tax advisor / CPA.

Lastly, Dave Ramsey's advice for all cash works for people with high-paying earnings and disregards the average American trying to dip their feet into REI.I do believe his method works once you accumulated enough properties and begin paying them off.

Also, California has some specific tax filing requirements for LLCs even if they're considered a disregarded entity for Federal tax purposes you still need to file a return.

(Assuming the llc is a disregarded entity.

As mentioned above disregard all asset classes 7 years or earlier.  

Sec. 168(e)(2) defines residential rental property as any building or structure from which 80% or more of the gross rental income for the tax year is from dwelling units entitling it to 27.5 years of depreciation.For hotels, motels, and other establishments, the 80%-gross-receipts test is disregarded if more than 50% of the dwelling units are used on a “transient basis.”