we got into an LLC by the repetition of advice heard from seminar world... n our legal n tax recommended it for holding rentals. pre2007 housing market "correction" ;) we were actively seeking multi fam apt 120+ units class c in Houston n Dallas. after becoming proficient n familiar in our target areas the market turned n we were spared the hard knocks tuition of that market correction. however, that said, we were categorically in commercial AND rental rates post 2007 shot up...so maybe we missed an opp?