With two rental properties, this will save you a lot of time and expense.The LLC also affords a layer of asset protection to the IRA and ultimately to yourself that would not be in place with property directly held by an IRA.Not all custodians will support the LLC model. 

The next layer down, still good, can access cheaper capital from other sources.  

When you peel back the layers, there are really two types of valuations: a “market valuation” and an “internal valuation,” sometimes called a “personal valuation.”The market valuation is the broader market’s view on what a property is worth.

Hiring a layer to help structure the partnership agreement will help protect you for a lot of your initial concerns and will outline how to terminate the agreement or buy out partners if/when you feel its necessary.

Additionally, I have no background or professional experience in real estate so I am struggling with initiation and access to vital tools and resources.

Even acting as a pass-through, does it still add the layer of protection from personal assets? 

He lays out how the LLC is just another layer of defense. 

My advice is the same in either case (don't do it please) but I see that adding a layer of confusion too.

A title agent or attorney can help you ensure you are using the proper language.The document must also be properly formatted and composed, where a local professional familiar with county guidelines is very helpful.Also, it is vital that you correctly reference the property's legal description.

LLC gives you one extra layer of protection in addition to the insurance.