It takes about 15 minutes to setup an LLC in Colorado online. It costs $50, and the annual report is $10. You certainly can pay a lawyer $500/hour to fill out the forms for you, but there is no need.
Keep in mind you can register a company in whatever state you like (although you’ll have to pay someone to act as an agent if it’s not your state). Most corporations are registered in Delaware because of their favorable incorporation laws. You can get a DE agent for less than $100, so your total registration cost would be <$200.
I just filed an annual report, it took me 5 minutes, only because I couldn’t remember my password. Taxes are not hard as people make out either- I have used Turbo Tax for years with some very complicated tax situations (multiple companies, state taxes in 4 states). In my worst year, it takes about 3 hours.
I don’t know why anyone would elect to be a SP, especially with a design business where you bear responsibility for product liability. That is an enormous risk.