I also doubt very seriously that any brokerage/custodian is going to allow this kind of loan with 401k assets; it's likely going to need to be a 401k general purpose loan, which is highly regulated (as someone else mentioned). 

The process seems daunting and overwhelming, and I am not confident I will put the time in to talk to sources, analyze, and find properties for investing purposes. 

From a practical viewpoint, I wouldn’t think the lender would accelerate the note, if the LLC were a single member LLC, you were that member, and it was treated as a “disregarded” entity for tax purposes.  

Promote Structure - This is usually if you guys have 1 person who handles the majority of the business and the day-to-day operations.

The first main purpose of real estate investing(or any other investing) should be the return you are getting.

Along those lines, if the owner gives you a very FIRM "NO" when you present your proposal to rent their home for the purposes of doing STR (short-term rental).   

I am currently in the process of identifying land for a purpose-built residential assisted living and memory care facility in Houston, TX.

These serve two purposes:1.

A goal gives you direction, purpose, and excitement for the future.

It's very possible that whatever change might happen won't be in affect until 2026 also.It's also worth noting that any depreciation taken for the property for rental purposes doesn't become part of the Sec. 121 exclusion should you choose to take that in a future year.