Of course many lawyers would tell you otherwise.Of course, one possible advantage (if this is important to you) is that an LLC provides a layer of obfuscation if for some reason you are looking to make it harder for someone to find out you are a landlord through public records. 

In illinois they are public notice.

My question comes in while reading IRS Publication 527 Page 7 there is a section that says "The following are settlement fees and closing costs you can’t include in your basis in the property."

Funny thing is in these cases, the public utility is the first to notice and often come by to take a look at the meter thinking something is wrong with their equipment.

If you have access to those non public documents, you are ahead of everyone else.

It's not super in depth but should give you a good overview of the process and key terms.https://files.consumerfinance.gov/f/201503_cfpb_yo...If you are looking for more in-depth book, like Mortgages 101 or something similar, I would recommend looking at the publication date and focusing on the most recently published books. 

To me, the idea of LLCs is business smart because it not only protects personal from business assets (as well as one asset from another), but really spells out the expectations in the operating agreement and, possibly, a subscription agreement if there are multiple investors.Feel free to reach out to me or members of my team if you want to learn more.

You may have some liability protection for assets not held in the LLC and check with an accountant for any possible benefits from the new tax law.

Hi @Jeff Oberts, here is a public one I created a while back if you want to check it out.  

@Colby Mulry Depends on your overall financial situation if you'll need the additional protection a LLC provides.Search 'LLC' and pick from the hundreds of topics that exist on this issue to read.