I’m a W-2 employee in a high income tax state.

Also I am trying to file taxes without a cpa.

Hey guys curious, is it smart to open an llc and rent a room out on my own property just for the tax benefits ? 

I have neither the expertise nor time to try and manage it myself so I am in the market for a PM company.

If your all-in cost to build for below market value and you are able to place quality tenants, then you should be able to leverage the completed project in a way that allows you to pull out some of your initial investment tax deferred to fund future investments while keeping the rental income and future appreciation.I am a CPA by day and advise many developers on tax strategies.

If you open this as a single-member LLC, it gets a little tricky with additional state taxes when sold or if something were to happen to the single member and the property went to a family member.

Then prop tax on investment rate IN for a 4 unit probably another $500 + $150 insurance, etc? 

I'm thinking of managing myself and looking for a fee based advisor who is versed in tax/management.

Will her 1031 exchange tax deferment be affected if she transfers the funds directly to escrow at closing without being on the loan?

An LLC might be a wise choice if you want to purchase many properties or take part in more intricate real estate deals.The owning of real estate under an LLC may have different tax consequences.