To keep things simple, we stay consistent with our percentage ownership in everything and that is reflected in our K-1s.For additional work I've done for our LLC, we will pay me "management" or "services income" and I get 1099's at the end of the year.

Originally posted by @Jim K.

I agree with @Jim K. 

If I’m I’m intrestead I’ll also Che k Zillow rents in the neighborhood. 

@Roong K. 

@Chris K. would it matter to me if I’m the borrower?

@Jim K.

When you guys contributed cash, you should have recorded cash as a contribution in the LLC's books. 2) When you invested in the LP, you would get rid of the cash from your books and record the Investment in your books. 3) After the year-end when your investment entity (not your LLC) files a tax return,  you will get K-1 from your investment entity. 4) You will record the activity of the investment that is shown in the K-1 in  your LLC's books.  5) After the books are done recording the K-1 from your investment, your LLC will file a tax return and will issue K-1s for you guys. ( just like your limited partnership investment issued a k-1 for you LLC) 6) You will pick up the K-1s in your personal return. 

Quest has provided you, I am assuming, with a set of Solo 401(k) plan documents. 

And I guess there will be capital gain tax on any profit we make because we are selling before 1 year period even though the property value is below 250 k.