Investors tend to be better informed on a lot of real estate aspects.

I do need to do some drainage work as well and since the interior is almost completely rehabbed i thought the blacktop not only provided an esthetic aspect it provided the utility to the tenants who will be responsible for snow removal which is standard in my area. 

For that business I never looked much into the protection aspects because it wasn't an asset-heavy business and I carried much more liability insurance than would ever be necessary due to client requirements. 

every area has its good and bad aspects i would say. 

Could the LLC be used for property management aspects (hiring contractors etc.)?

It removes the "I thought you said" aspect of verbal communication. 

I do however love the entrepreneurial aspect of real estate investing because my success is more tied to my ability to learn and apply effort.

The main objective is to learn higher level Real Estate terms, financing strategies, aspects of development, valuation, and surround myself with people who are interested in the business as much as I am.

As a non-lawyer I'll address the cost aspect here.Everyone seems to want anonymity and maximum protection.Realize the more layers the more yearly costs.Here are some quick questions you can ask to get an idea of the yearly costs:1)  Will the LLC have to file it's own Federal return or will it be disregarded for tax purposes?

Read books, listen to podcasts, and learn more about any of the real estate aspects you're interested in.