That said, should I open a business bank account in my own name as a sole proprietor or create a DBA to protect my SSN? 

‘lifestyle’ business – ie simply intended to be run by and to provide an ongoing source of work and income for the proprietors, no clear vision for the long term future?

Both my wife and I are in this together, can we operate as a simple sole proprietor structure?

Are you going to be a sole proprietor or LLC member with others or partnership etc.

Go to the court house and file to be a sole proprietor.

Can a Tennessee real estate agent, working under a broker, use a LLC or S-Corp for tax & liability purposes instead of doing business as a sole proprietor?

I am currently personal and looking into sole proprietor, will this benefit me?

If the LLC is a single member LLC that chooses to be taxed as a sold proprietor (meaning it doesn't file it's own tax return and all activity of the property is reported on your personal tax return) the the IRS still views you as the tax payer for the property regardless that the LLC is the deed holder. 

You can go to the county courthouse and file as a sole proprietor with no annual costs.

An LLC that is a single member LLC and elects to be taxed as a sole proprietor does not file it's own tax return.