If the income is subject to UBIT and/or UDFI, then filing would be to your advantage, as you could then carry forward that loss to offset any potential income in future years.But, investing in a syndication does not automatically create UBIT or UDFI exposure. 

Something to take into consideration in regards to risk exposure when looking at Real Estate vs Business investment is while a Real Estate Fund can be set up for a single project most Business Funds need to diversify their investment over several companies to offset any losses should any of the companies fail.As investors get more comfortable with Opportunity Zone Investment I believe we will see the Real Estate investment side quickly saturated by investors as the guidelines are simpler and the deals are easier to analyze.

It is helpful if you follow your local subforums so you get notifications when something new is posted - these subforums do not show up on your regular feeds and seem to not get the exposure yet.

Commercial exposures are very different. :)

You have more risk exposure driving your car than you do with owning a single family home as a rental! 

To manage my liability risk/exposure, I wanted to get your thoughts on my current plan:#1 Be a fantastic, responsive, and pro-active landlord (who keeps excellent records).#2 Conduct thorough and effective tenant screening.#3 Create a strong lease which clearly outlines the expectations and responsibilities for the tenant and the landlord.#3 Acquire plenty of insurance coverage and an additional umbrella liability coverage.Many thanks in advance for your thoughts and responses!

If you have a liability exposure, there is an insurance market that will cover you. 

I want make clear the question is not for any tax purposes, just minimizing the public exposure. 

But, you would still owe taxes on the gains, it is just not due until you file your return for that year.I also agree with J in that flipping homes and the tax exposure to that is entirely different than owning stocks and selling for the gain.

(same filing as any IRA).If the LLC has exposure to UDFI or UBIT taxation through the use of leverage or engaging in a business then you would certainly want a CPA to help with the required 990-T federal tax return and any state equivalent.