Basically it just means choosing the work or activities you want to do, and having passive income to sustain (and protect) your chosen lifestyle.

It depends on what perspective you look at it from in CA theres an 800 per year CA franchise tax fee per entity so it would only be feasible if the investment made enough to justify the fee or if the risk was so great that the 800 was justifiable because of the protection needed.Perhaps a better question is what you hope to achieve by creating a LLC?

Are registered sex offenders a protected class? 

His priority is to protect lives and property, and has seen a lot of stuff we haven't.  

You are selling an investment to the public, whether you know them or not, they are still protected.  

I agree with Joe Gore that, for one property, all the corporate stuff is really not necessary, especially if you don't really have any assets to protect, plus the fact that, if anything goes wrong, taking title personally and subsequently transfer to an S Corp. won't exactly hide ownership or protect you.

Banks are very conservative in protecting their interests and in the process can help protect you from yourself!

Your state may allow for something that would truly cloud title.Are you prepared to show up in court to protect your position?  

But please DON'T SKIMP ON YOUR LEGAL PROTECTION!! 

And if you are at all sloppy about the mechanics of the LLC- separate accounts from your personal, record keeping, etc, then you really have no protection at all.