There are many advantages to incorporating as a landlord regardless of how many properties you own. The first advantage to forming a business entity such as an LLC is that it protects your personal assets. If you should be sued, in most cases, your personal assets, such as your home, are protected. Some landlords even choose to form an entity per property, so that lawsuits may be isolated to the property in question. Other advantages include that it's easier to keep personal and business funds separated and the owners of the business can more easily be anonymous. There may or may not be tax advantages for you. If you are considering incorporating, talk to a lawyer about what option is right for you.