First of all I want to thank the BP community for all you do. I would have learned so much without you and I am sure that I will continue to learn more. My husband and I are considering selling our house on a short sa...

Advantages or Disadvantages of either?

The benefit is in asset protection which your clients should discuss with an attorney; they should also discuss if a trust would serve their purposes better.There are potential disadvantages to having a 2nd home in an LLC. 

They cannot create any benefits or disadvantages because they are simply ignored.They create some benefits which have nothing to do with taxes: anonymity, facilitating transfers etc.

A reliance on single industries (manufacturing) has really disadvantaged wide swaths of Central New York. 

Both have their advantages and disadvantages. 

But, if your clients are all driving shiny new cars, and they're trying to buy property where all the neighbors drive shiny new cars, then an old work truck might be a disadvantage (e.g.; it could make some clients uneasy, or some clients might view it as a sign that you don't have things together).Personally, I like my agent to be driving a vehicle and showing signs of wealth and success that are just one step above my own vehicles, and my own level of wealth.

There are tax disadvantages that can "bite you."

FINDING THE RIGHT LENDERReal Estate Agents assist in determining what a Buyer can afford as well as available financing options.FINDING ‘THE ONE’With hundreds of homes on the market at any given time, Real Estate Agents assist in finding the home which best meets a Buyer‘s needs, from size and style to features and location as well as accessibility to desired amenities.EXPERT PROPERTY ADVICEReal Estate Agents can provide information to better inform a Buyer regarding which property to buy, from real estate values to taxes, municipal services to utility costs.KEEPING THINGS IN PERSPECTIVEReal Estate Agents can be objective about a property and point out disadvantages, as they have no emotional ties.DETERMINING FAIR MARKET VALUEReal Estate Agents will determine “fair” market value establishing a fair sales price.STAGING AND FIRST IMPRESSION MASTERSReal Estate Agents can offer suggestions for staging a home to show off its best qualities.MARKETING MARVELSReal Estate Agents also act as marketers to make a property more visible to Buyers.

We have to do the math to determine what advantages and disadvantages each offers in taxes, opportunity cost, relative asset risk, cash flow and appreciation (to name a few).