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If you deduct the business expenses on your personal return, you will probably be subject to limitations on you Schedule A. However, if you can set-up a company that has a business purpose (other than just deducting your business expenses) you would be able to deduct expenses such as these.
You could have a company such as an advisory company. You would need to find a way to book income to offset the expenses. A company shouldn't continue to loose money year after year or it may start looking suspect. Would the LLC's consider paying you an outright consulting fee that diminishes your K-1 returns?
Please let me know if you have any further questions. My firm services many clients that have similar circumstances such as yours.
My office is located in Southern California. We have clients throughout the United States. It would be great to speak with you. My contact information is as follows: