It permits you to tailor the LLC provisions to take into account the individual tax goals of it's members within the limitations of the tax code.

Who has experience switching from one master meter serving a park to converting to individual meters and in the meantime, discovering leaks from a huge web of water lines, any suggestions?

Only if the coffee shop is in the lobby of a moving and storage service.Not to be offensive, but I would suggest you might have better success with property management.There are lots of people who can self manage, but I always say one of the things most property managers are great at vs most individual self managers is enforcing deadlines and collecting late fees.   

New builds generally have much less price flexibility than individual sales. 

If you can get lines of credit either on the properties individually or collectively I'd look into that. 

In regards to starting an LLC, would you need to set up a new one for each individual property?

One was I could lock in the rate for 30 years and not worry about a ballon on a commercial, also if I decided to sell any one of the properties I could sell individually.  

JohnAn LLC is a pass through entity so it is taxed on the individual level not on an entity level.

This is the bank I worked for, and we were constantly kicking contractors off the program for not ensuring the people creating the loan were actually authorized to do so.I'd say it can be a good investment if it's something that your market can support, but in general think of it like a pool.

If I buy a property in a Land Trust,Or if I originate a note in a Land Trust,Then sell partial beneficial interest in the Land Trust to multiple individuals,Do I need a PPM and need to have this passed by the SEC ?