I'm sure whoever is watching "the big game" will love hearing the blender instead of the big play until you finish the drinks.

It will not matter if it is one or both of you on the LLC as long as the property continues to be reported on your personal tax return.One thing to watch out for - The IRS has said that LLCs with husband and wife in non-community property states must be treated as partnerships and are not disregarded entities.

Then you can do your real estate investing directly from the new self-directed inherited IRA.One thing to watch out for with self directed inherited IRAs, is that you will be required to take minimum distributions from both inherited IRAs described above now, based on your life expectancy.

So you will have to watch out for municipality, county and HOA rules to determine what you are able to do. 

And any other thoughts or watch outs would be appreciated.

Fine, I will watch their demo and report back.

He watches some flip shows with me but still gets disgusted by dirty carpet (even when I point out it's only a $2000 replacement expense).

@Michael LindeYou will need to get educated on it - start by going over to the tax lien and mortgage note forum here on BP and watch some videos on YouTube.Full disclosure - unless you have a few hundred grand to invest notes probably not what you’re gonna be looking for.

God watches over idiots.  

But In creating the LLC’s I did want to then transfer them into the LLC and I watched videos that had said creating the Wyoming LLC added protection and anonymity for your assets, which I’ve come to find out is not the case, and transferring them into the LLC will be costly, so it seems that creating them in the first place was the wrong thing to do.