Any opinions on whether or not there are any tax benefits and savings when purchasing a Multi family as an LLC vs Limited partnership or personal entity?
Assuming you are planning to operate the multifamily as a rental, there are no tax benefits available to a pass-through entity (LLC or partnership) that you wouldn't have anyway as a sole proprietor. As to savings, the setup and annual LLC maintenance costs will give you a lower after tax income than you would have had without the LLC.
I put the majority of my rentals in LLCs and then treat them as disregarded entities for irs tax purposes which means I report them on my personal tax return on schedule E. I do this for liability reasons not for tax purposes. As @Dave Toelkes stated their is no tax advantage for an LLC or Corporation for rental properties. But I live in Florida which actually encouraged and likes to attract new businesses to the state so it only cost me $125 a year per LLC, and a one page annual report and no State tax on LLCs . Looks like you live in California and they have a high minimum LLC tax and filling requirements, so the cost are probably not worth it, just for liability protection. Just make sure you have a good liability insurance policy if you have personal assets you wish to protect from law suits. Hope this helps, Good Luck!