If you choose to use classes for Personal and LLC then just be careful to keep things straight and your balance sheet balanced for each class - your accountant will appreciate it come tax time. 

This is advice I’ve gotten from entity formation lawyers in my area, but the quickest and most effective way to answer your question would be by having a meeting or conversation with an attorney in your area and getting the answer “straight from the horses mouth” so to speak.

Please set me straight if I'm thinking wrongly.Now, one major question that comes up is that of the  mortgage.

I would recommend skipping that stage and moving straight to BRRRR. 

I wanted to say that I am an option trader myself who wasn't very successful and was failing for 8 months straight.

I would just write up an addendum that simply says, "The property at 123 Straight Street is now owned and managed by Doing Business LLC.

Fortunately a client who also lays asphalt told me straight up to not bother with it for a rental.

You already have good questions in mind and if you're curious enough, you'll be asking a lot of question to understand what's going on in his head and you'll be able to tell if he's straight with you or not.

Seems straight forward, but also seems a little too cute.

Ive always been straight with them and just got good at picking my target audience and focusing on that.