Outsource a different corporate phone number to a call center.Rent checks go to Watnik LLC (Like that?

Umbrella with each one in an individual LLC, perhaps?

If you start a LLC with both of you on it then you need to secure commercial financing.  

Some questions I have:-Do I actually need to start my own business right now and put it in an LLC or can that wait until later?

Would it possible for my parents to transfer the 100k to the account of an LLC in my name while avoiding capital gains taxes?

We realize that house hacking is a good way to get started, but have struggled with leaving downtown as we like it so much.Due to a series of related events, we decided to that we should at least look at areas we like to frequent (Ohio City, Tremont and Detroit Shoreway)(these are neighborhoods the border downtown Cleveland for those not familiar. 

In the past I have written off a per diem expense for both lodging and food when my husband ( the single owner of an llc) travels from Florida to Michigan to work on our business.

The only problem now is my wife is expecting surprise baby #4.......got to create another LLC I guess!

For my rental buy/hold portfolio (under an LLC), a few of the properties I'm able to achieve 150% return (just because I've been able to pull out my original investment and more through a low cost loan).Agreed, a non-recourse loan would be a point and half higher and getting 150% returns may be harder. 

It becomes hard to prove to the IRS what is inventory and what isn't.If there is more than one shareholder of an LLC it is taxed as a partnership UNLESS you are in a community property state.You need to understand that an LLC DOES NOT EXIST as far as the IRS is concerned: http://www.biggerpockets.com/forums/12/topics/7605...You can flip in a C-corp or s-corp and then distribute the income or even loan from there.Personal Holding Company Tax (PHC Tax) is a 20% tax on a corporation that holds passive based income that GROSSES more than 60% of the income.C-corps have NO CAPITAL GAIN RATES.Here is a thread on Real Estate in a C-corp and trying to get it out: http://www.biggerpockets.com/forums/51/topics/1057...