The answer to his question is regardless of which method he chooses to take to get paid, either his personal or his disregarded LLC, the impact on his personal return is the same as @Wayne Brooks mentioned.

I remember when we first bought the place and I was researching everything I need to know about land lording in my area, I would read some requirement and then disregard it because it stated " owner occupied dwellings below x number of units" were not bound by whatever this requirement was.

Even if you maintain the entity, observe the formalities and don't co-mingle assets, the entity can be legally disregarded if there's blatant misbehavior, such as fraud or non-payment of taxes. 

It is disregarded by the IRS (ie no filing) but some State may need their own filing.WY holding LLC: owns all the sub LLCs. create the outside liability protection through the WY charging order.C corp: get all the fringe benefit available from C Corp.

Do you hold each property in an LLC with the s corp as the member as a disregarded entity or any structure like that?

Scott, I actually have a couple of questions I've been meaning to call you about, but since you asked here on BP, I thought I would ask my questions here in the hopes of helping out others with the same questions.1 - Single Member LLC's are considered disregarded entities by the IRS.

He said it would just be taxed as personal income and something about a pass though since it will be taxed as a "disregarded entity or sole prop"?

California, the IRS allows you to treat an LLC owned by husband and wife as a disregarded entity.

I ran a commercial rental real estate engagement that comprisd of 156 consolidated companies (not including the disregarded SMLLCs) and was on the workflow efficiency team to create standardized Excel workbooks for Residential Real Estate Partnerships for all of the offices of the firm to utilize when preparing partnership returns.

A single-owner LLC is usually ignored for tax purposes, known in technical terms as "disregarded entity."