Zillow doesn't "see" much difference and give the average - and these are totally different neighborhoods!

I am not a broker, lawyer, or professional giving legal advise, but from experience if you place that new property into an existing LLC and somebody sues that existing LLC for something that doesn't even have to do with the new property that new property could be part of that legal action as well.

From a tax-deferral standpoint, it doesn't matter if you buy one property or 100 (note there are identification rules which will impose constraints on what is practical). 

You want to do something creative and look it doesn't hurt to ask, but you've answered it yourself.

This doesn't appear to be your case though.Appraisers use a gross rent multiplier to determine the income approach in small multifamily properties.

Companies go bankrupt all the time, but the Social Security Administration doesn't. 

Does anyone use a Title company or Escrow company that doesn't require full disclosure?

Neighborhood is full of retirees and has no rental comps....doesn't sound like a great place to buy a rental investment property......and Zillow estimate is WAY off from your desired rent and in a bad way, so even factoring in some "leeway" for Zillow being off, its not even in the ballpark of what you need..... so going to be hard to convince me this is a good buy...unless its a buy and flip, but based on your numbers it doesn't sound like that's any good either

Where you study for the test doesn't really matter.

It's not "free" to sell a home, it's not just the realtor fees but getting a home "sale ready" is often different than "rent ready" and that doesn't even include potential for vacancy expenses and holding costs during the sales process.