This protects against potential claims and liabilities specific to the rental.For tax purposes, maintain clear records of rental-related income and expenses, allowing deductions for insurance, utilities, maintenance, and depreciation proportionate to the rental unit.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

@Al JeciusAre you in City of Flagstaff or Coconino County for zoning purposes?

I sense a bit of "purpose" that is driving you that you may not have thought of.

The first main purpose of real estate investing(or any other investing) should be the return you are getting.

Those property use codes may come in handy for other purposes, such as when my municipality is aiming to ban STRs.  

,Renting your primary home back to yourself isn’t typically allowed by the IRS for tax purposes, even if structured through an LLC.

All investments and assets are in the name of the special purpose LLC instead of "name of custodian FBO Jim Bob's IRA".5.

This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.

I wouldn't recommend this for research purposes.