It represents a passive investment option for individuals seeking to save money beyond traditional savings accounts, without delving into more complex investment strategies.

Either 100+ hours and more time than any other individual, or 500 hours per year.

The amount taken out from the business would possibly be treated as a return of capital (no earnings) for that individual.

We plan to act as the GC for permit coordination, but mechanical, electrical, and plumbing contractors will file their permits individually under our GC status.

Looking forward to make connections with the many wonderful individuals in this community!

It depends on if the LLC is a single member LLC or a multi-member LLC.If it is a single-member LLC, it is considered a disregarded entity and reported directly on your individual return.If it is a multi-member LLC, by default, it is considered a partnership.If there is no income or expenses(rare to happen), then yes, no requirement atleast at the federal level. 

Though usually, it depends on the investor and their individual goals.

The asset protection benefit is that I can utilize Special Allocation strategies whereby, I, as a natural personal individual, would own less than 10% of this new Partnership/LLC and my SMLLC would own the remainder 90% thus the majority tax responsibility would flow through to the SMLLC.Any thoughts from the professionals of BP is greatly appreciated!

We have a similar situation (partnership between two LLCs) and our attorney recommended forming a partnership LLC with the two individual LLCs as members. 

I have multiple folders on my desktop as I've learned more about the nuances of real estate.