Just conducted a little research and found an interesting case that points out the difficulty the courts had historically distinguishing between the status of trade or business v investor.

Should we conduct mold tests prior to remodel and then have to deal with any possible remediation or are we liable in any way if we do not and issues are found when we put it on the market or after sale?

This may be evidenced by acts, conduct and declarations.

The seller has not conducted a septic tank inspection as required by the City/ County. 

Yes, I am currently reading through the chapter describing how an agent who owns property has to conduct himself and what disclosures he/she must give. 

Yesterday morning I got a call from two nurses attempting to conduct a home visit with an elderly Tenant of mine.

If I conducted a thorough rehab my maintenance items should be very small.  

My main motivation for using this method came from how I choose to conduct myself in business. 

Learn how to evaluate, conduct investment analysis, and analyze deals.

It's the last matter mentioned that becomes unique to each investor or group of members and it's not so easily duplicated or employed.Now, if you take the internet's Legal Zip approach, you can have a canned entity that will be more costly in the end due to changes being made along the way and by not understanding the tax implications of what business might be conducted you can simply trash and shut down and start all over again.Another alternative is how to use other entities as members in a Series, these may become subsidiaries or affiliates.