@Robert Guarino, That makes perfect sense. 

I have several and will buy more as they make sense.

Our goal is to always buy, but we are only willing to purchase deals that make sense and work for our investors. 

Oh, gotcha, yea that makes sense.

I’ve used seller financing as both a buyer and a seller and it can make a lot of sense in certain circumstances (for example I used it as a buyer when I reached the maximum number of conventional loans I could get, and I’ve used it as a seller to both increase my net proceeds (due to collecting interest as “the bank” in addition to the sales proceeds) and to lessen my capital gains tax hit by spreading it out over a few years).

Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?

You sell your investments whenever it no longer makes business sense to hold them, not when you "need" it for tax reasons!

You need to properly maintain all this structure or it just gives a false sense of security.Secondly, why all cash? 

Does it make sense to start an LLC to hold my properties, and what are the pros and cons?

Bird dogging is a way to make money but its not gonna get you rich.WE have had many do some birddogging for us on the private lending side to find qualified people that need a loan and its interesting how many last a few weeks - I sense the same holds true for real estate bird dogs.