Note business legal structure

[Patrick Snoke]

I am undecided on the best legal structure to invest in notes as a side business. I have 3 options and each has their own things to consider. I have personal investment fund and an IRA of equal value

1. Sole proprietor/DBA- Easy setup, pass through to my personal taxes, can use the cash management account in my brokerage account to warehouse/invest between opportunities. Downside is liability and I would need to do a separate self directed IRA to tap additional funds that can't be coming led with personal.

2. LLC- Easy setup, no double taxation/personal tax pass through, increased liability protection. Downside is another tax return to have completed (minor) and I still can't use IRA funds with personal. Can't have single brokerage/cash management account for stocks/note investing funds.

3. C Corp & use a ROBS (roll over business startup)- Expensive setup and yearly costs but unlocks my IRA funds to create one large pool of capital. Double taxation issue as well. ROBS need to be an operating business rather than an asset holding company. I feel like this would be a great option if I were to quit my job to invest, but that isn't likely.

It almost seems like the LLC is the obvious answer, but I would really like to find a way to have one large pool of capital for stocks and note investing in a single checking/trading account. Maybe I can't have it all.

Do most note investors use an LLC or in their own name/DBA?

If I were to add rental properties to the mix, does that change things?

What is the best solution?