IANAA, but having looked into it this does very little to actually reduce the liability exposure from small businesses. The minute you do anything yourself, you start to accrue personal liability. The only way to keep the corporate veil intact is to hire other people. So it only works if you're rich enough to hire a management company to do everything (screen tenants, maintenance/inspections, supervise contractors, etc) and you manage it as a purely financial investment. Just like the anonymity aspect doesn't work out in most states unless you're willing to shell out for an attorney to be the manager. In general these laws aren't made to help little people.