What are the advantages or disadvantages of doing this over an LLC for each property?

I would like to discuss the advantages verses the disadvantages if possible.

Each type has it advantages or it's disadvantages, depending on your Investment Goals/objectives.

I am trying to identify the advantages and disadvantages between the two and I am not adverse to spending more money upfront to form a solid foundation.

The advantages/ disadvantages are more favorable from my viewpoint especially if I am to partner in deals.

Advantages/disadvantages about a longer-term lease in this situation?

As we all know, real estate in the tri-state area is very challenging because the market is so high and competing with the large cash buyers really put new investors at a disadvantage.  

In my opinion the best option is to have both in your portfolio as they each have their unique advantages and disadvantages and neither is superior to the other in all ways.

Direct investing has both advantages and disadvantages.

While publicly traded REITs are very much like stock market investing, the other types offer their own advantages and disadvantages, primarily relating to volatility, liquidity and tax treatment.