Individuals can and do own real estate directly for investment. Lawyers and financial advisors often recommend that investors use a legal entity to own the real estate to limit the liability of the individual owner and to achieve tax objectives.
The organization chart for an individual owning real estate is simple. The ownership structure chart shows that Frank Founder owns 100% of a commercial building along with 100% of the risk.
You can read more about real estate investment with limited liability companies.