Let's start with the tax implications in Europe:I believe you may have gotten some incorrect advice here regarding taxes, or at least that the person telling you not to set up an LLC may have been confused.Typically speaking, an LLC is a "pass through entity".

if you do it incorrectly, many jurisdictions will classify the primary as rent controlled (which I believe is not applying the law as intended).  

Or am I thinking about the problem incorrectly to begin with. 

I have seen so many deals be a bust due to incorrect information.

What you suggest is factually incorrect.

But you have made several incorrect assumptions and statements.

Sorry, I reread my original post and I might have worded things incorrectly.

The Quit Claim Deed was hastily generated such as paragraph indents where there shouldn’t have been, missing information, and most importantly had the incorrect property ID from the County.  

They can mess things up and report things incorrectly which can lead to an audit.

Thank youStatonYour CPA is incorrect.