I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

As others have pointed out, you likely need a CPA instead of a financial advisor.When selecting your CPA, make sure they are familiar with real estate taxation(Especially as it involved short term rentals).

Rent doesn’t necessarily need to be paid, and it would be a double taxation issue, but a contract outlining the arrangement signed by all members would certainly be helpful.

An LLC also offers flexibility in management, taxation, and other aspects of running a business.

Sales taxes for the state are comparatively low at 6.25% (it can reach a maximum limit of 8.25%), and Texas is one of nine states that does not have personal income taxes.However, as taxation is a vital source of revenue for local government, the burden falls squarely on property taxation to compensate for the lack of other revenue.

With a profits interest, there is no taxation because that is an interest in the future profits and appreciation of the LLC. 

Taking money out of a multi member LLC requires advanced tax planning in order to avoid double taxation.

While you can certainly administer investments with activities such as executing contracts, paying expenses and receiving income into the plan, you put your IRA at great risk if you are out doing all the necessary marketing and deal-chasing activities that wholesaling entails.  2) Wholesaling is a dealer activity and therefore subject to taxation on Unrelated Business Taxable Income (UBTI) if conducted on a regular or repeated basis. 

@Shera Gregory@Dmitriy Fomichenko is correct in explaining that the LLC is the borrower, and so long as the lender is not a disqualified party, that is fine.The use of debt financing does create exposure to taxation known as unrelated debt financed income (UDFI) which is documented in IRS Publication 598.  

As far as taxation goes, everything is generally just considered active income except for when the loan is resold, especially after holding for 1 year.