I did a lot of homework on them and met with them several times before pulling the trigger. 

That triggered us having to pay transfer taxes, as the state treats an LLC as a disregarded entity, even if it contains the same members.Most of our clients invest using an LLC as their preferred corporate structure.

Right now I am searching the MLS daily and have a subcontractor friend who lets me know if he hears of anything hitting the market soon as I am ready to pull the trigger on my first deal this year.

I was looking a lot in GA last summer and couldn't get myself to pull the trigger on something so far.

However if you plan on buying 3-4units, there is a trigger rule for FHA, it is called the self sufficiency test.

What kinds of code updates should we expect this to trigger?

Through a 1031 Exchange, investors can roll over proceeds from the sale of a property into a DST without triggering immediate capital gains taxes.

You have to have the personal protection either way, at which point the LLC is less important.An accountant once warned me to be careful about using the LLC to manage the properties if they are not owned by the LLC because it could potentially trigger taxable events. 

You will get a lot of opinions on whether to own in your personal name vs. the LLC - be aware though that if you transfer them to your LLC now, you will trigger transfer tax which can be quite substantial.Going forward it would certainly recommend setting up LLCs to purchase your properties. 

First, will your lender trigger a due on sales clause?