She works part time because it's a good balance of her interests, and protection for the family.

You do not need to have it under an LLC to take depreciation, the LLC's purpose is to protect your personal assets should you get sued.  

I have looked for examples of landlords that were protected by their LLC and always come up empty handed.

You have to protect your assets and your family.Yes to all over 18 years old.

Not sure I would invest in places without such protections as I see this on BP in a lot of places (i.e.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

This gives you a more realistic picture and protects you from unexpected surprises.

Quote from @Josh Ball: Quote from @Jonathan Greene: Smokers aren't a protected class, but they could argue that whatever the underlying "medical" issue for the card could be part of one.

Also, take time to understand Arizona landlord-tenant laws to stay compliant and protect your investment.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.