But I read that there's downsides in doing that just don't know exactly what- capital gains tax, etc. also I was told to open up a new LLC and use my current LLC as the manager.

If you live in a state with its own income tax, you might be allowed to credit your Illinois tax against your own state’s income tax.

Pretty much think of a commercial loan process as a residential loan process backwards.Lenders do go off the income of the property, but they also do check out the purchaser...3 years tax returns and a personal financial statement. 

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

I'm a local real estate broker, investor, and manager (100+ rentals, mostly Airbnb/STR and multifamily).House hacking is a tried-and-true method and in Sacramento you can produce some meaningful income while enjoying the appreciation and tax benefits of owning real estate.

@Pratik as @Neil Narayan mentioned, cash flow is very challenging due to the property values, property taxes, and soft rental market.

You'll likely want to evaluate the investment with UDFI tax figured in.The Solo 401k trust would make the payments to the seller/lender and would also pay for any investment-related expenses.

The home burns and the incredibly over taxed CA FAIR plan has either gone bankrupt or takes years to pay out.2.

There are auctions to sell cars, police auctions, tax impounded auctions, antique auctions, etc.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate?