If you are buying in your own name, then obviously you won't have this as a formally separate entity.But the bookkeeping will be so much easier at tax time if you set up bank accounts for the rental property separate from accounts you use for your personal expenses.

There also may be ways to enjoy some tax benefits in other types of taxes like gift and/or estate taxes, depending on your goals and family situation, if those are topics that you want to discuss with your estate planning & tax attorney as well.

My father in law would say Yes, but that is also why we don't prepare his tax returns.

I have been monitoring and researching the Tax deed process in Texas for the last 6 months.

Try to get most of your learning out of the way before you try to do a transaction.Buyer seller agent    Commission splitNo subject to financingZoningMarket 3/2 2/1 parking school districts addl ADU property taxes insurance flood zones etc etc.  

It allows us to pocket a pile of tax free cash from the sale of our primary.

You can use 1 EIN for both since you are DBA under holding co LLC or if he believe you should get a second LLC EIN number for tax purpose. 

It's 2 properties, single family homes, in the SF Bay Area.Sharing some details that might help inform the decision, let me know if anything else would be relevant.One property fully paid off, generates between $20-30k in profit after expenses (property taxes, hoa, insurance, etc).The other property is our current primary residency and would operate at a loss of about $10k/year.I plan to travel back to the US at least once a year, could that be a deductible expense with an LLC? 

A partition agreement might allow mutual access easements to avoid the appearance of a subdivision.)

Any income generated from the property, such as rental income, must be deposited into the Solo401K account, and all expenses associated with the property, such as property taxes and repairs, must be paid from the Solo401K funds.