The LLC would be one entity and you would need to track expenses and returns on a pro-rata basis.A single-member LLC is disregarded for tax purposes. 

You have to focus on the end game before completely disregarding a product.

Disregard any previous advise I provided.

For the single member LLC treated as a disregarded entity for tax purposes, the EIN is your SSN.  

Please disregard my comments in the previous paragraph.

Shouldn't be any other tax issues as LLC's are treated as disregarded entities and are taxed on a "flow through" basis by the IRS.  

I can't get a straight answer and I'm on the verge of requested an opinion letter from the IRS directly.Here's the situation -I have a single member LLC (disregarded) that wholly owns the following:Three rental propertiesA second single member LLC (disregarded) not involved in real estateA third single member LLC (disregarded) - construction companyHow do you report this on your 1040?

You don't just stand up in front of a judge and say, "I'm a smart lawyer, Your Honor, and I think you should disregard the laws of this state and hold the owner of this LLC personally liable."

We want to be able to consider the LLC a disregarded entity.a) Since CA is a community-property state, can we be a disregarded entity (for tax purposes) with 2 members?

However, a single member LLC/disregarded entity and/or a land trust should not pose any problems for you since disregarded entities are still treated as if the underlying owners own the property (i.e., you and your wife).