OfflineI just started today and I'm diving right into Dean's Academy training. One of the action steps, which is also briefly mentioned is his book, involves the forming of a corporate entity to enjoy certain advantages and tax benefits.
I dropped my accountant an e-mail to ask his opinion, but its Friday, and I probably won't hear back from him until Monday. I am just so fired up, I don't want to wait until Monday to get some answers.. 
Any and all comments and suggestions are welcome, as it will give more info to ponder over the weekend. Thanks!
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Eric,
We just took this step ourselves...formed two LLC's for our REI business. One we are running our properties through & the other we plan for future use as the property management company for our rentals.
I know a lot of people on the site recommend Legalzoom.com, but for me it was a bit pricey. For two LLCs, it would have cost almost $1K to setup & get my Tax ID. I'm in Florida, and the state allows you to complete your LLC filing completed online for $155. I was also able to apply for the Tax ID# directly on the IRS website for FREE.
You may find it hard to actually close in your LLC/Corp name at first until you establish credit for the biz. If so, you can always deed the property over to the LLC/Corp after closing.
You might want to look for a small local bank that does residential lending & see if they will allow you to close in the biz name. They are out there, I found one in my town this week that will close (non-conforming loan) in the biz name with 10% down!!!!!! Nothing like good ole' home town banking.
Best Regards, Robbie
Joshua 1: 8-9
"Study this Book of Instruction continually. Meditate on it day and night so you will be sure to obey everything written in it. Only then will you prosper and succeed in all you do. This is my command—be strong and courageous! Do not be afraid or discouraged. For the Lord your God is with you wherever you go.”