So arguing use of margin is self-negating as cost of finance for said margin in stocks EXCEEDES the annual rate or return making for accelerated LOSSES vs real estate investingTHIRDReal Estate Investing offers a host of additional profit potentials from tax savings, deferment's, affording use of what would be a tax payment to become additional deployable capital with 100% receipt of profit's from what would have been a tax payment.     

And don't get me started on how Community property states vs non community property states have mucked up the whole LLC entity issue.But for purposes of entity ownership and identification of actual tax payer (which was @Michael Plante's question) I don't think there's going to be any state nuance that will differ.