Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

Quote from @Jeff Calcaterra: We have a potential tenant new to the area who has gone through a paid background check, signed a background check authorization form, sent us a LinkedIn profile, sent an offer letter and says he is willing to send us paycheck stubs, but says he doesn't want us to call HR to verify employment because he is supposed to have found housing already.

This was critical for me since I wanted the code generation for the guests to be fully automated.

This for me feels like a big leap in my life.

Is there any form of education you could recommend?

There is absolutely no need to have this extraneous and superfluous layer in the form of "Good Egg" and other companies that simply collate funds, take a fat commission and then route the money to the actual GP/Syndicator.

Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

By "Tax Loss" I mean that it is likely that without depreciation your property is cash flow positive.If you Materially Participate in the management of your portfolio of rental properties, that loss will be treated as Non-passive, and will flow through to page one of your Form 1040 tax return.  

- Form 1098 reporting the interest under my SSN.