re: Thoughts on whether I need a LLC or not

On 3), there absolutely will be a sizable amount for TN F&E tax. .25 per every $100 of fixed assets, along with 6.5% on all income not subject to SE tax. So if this is a $1M building there’s $2500 of franchise tax. And say it shows 20k of net income, there’s another $1300 of excise tax.