I believe having them and the financial accounts to support them held in a corporation would shelter that income from the FASFA (which is a complete joke if you make a living wage or above by the way).

So I am brand new to RE and looking for a supplemental income, then hopefully to quit my corporate job.

Try https://knowyouroptions.com/loanlookup for Fannie Mae loans & https://ww3.freddiemac.com/corporate/ for Freddie Mac loans.

I think reading Rich Dad Poor Dad in 2003 completely ruined my enthusiasm for corporate America.

Conversely, you could also establish an S-Corporation tag on the LLC to lower SE tax, but that could also carry complexities that would need to be navigated carefully. 

More importantly, I would obtain the liability insurance I mentioned as a good attorney could pierce the corporate veil regardless.

the water cert applies to any transfer of any real estate.We have a series LLC that we started 5 years ago and it is much more affordable than seperate LLCs but this week in conversation I heard there is a active court case that people are watching closely that is testing the true intent of the Series LLCs corporate vail.

Many other states have very similar definitions of RE activity that requires a license.4735.01(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

I work full time as a corporate auditor at a large bank and have been doing all the rehab work myself.

You can do this by going to the following websiteshttps://knowyouroptions.com/loanlookup ( Fannie Mae )https://ww3.freddiemac.com/corporate/   ( Freddie Mac )If your loans is owned or operated by either of these companies you might be able to refinace under DU Refi Plus ( Fannie ) LP Open Access ( Freddie Mac )  The programs are made specifically for people in your situation.