I won't mention the employer because it's a massive national entity, but I assure it will be back on news soon as those buses arrive yet again. 

The below comes from THE word on the subject, the entity that will be buying and insuring the loan, Fannie Mae.https://selling-guide.fanniemae.com/sel/b3-6-05/monthly-debt...

@Alicia Prokos (and anyone else in the same position) A 401k plan is a type of Qualified Retirement Plan, in which there are - at a minimum - 2 essential roles: Trustee and Administrator.Plan administrator – The person who is identified in the plan document as having responsibility for running the plan.Plan trustee – Someone who has the exclusive authority and discretion to manage and control the plan assets.In the overwhelming majority of plans, it is the business owner and/or the business entity adopting the plan that fill these roles.Companies that provide 401k administrative services are more aptly called "third-party administrators."

If you operate as a separate business entity - S-corp, C-corp or a partnership - you may be required to have formal compensation for yourself: either a W-2 salary or so-called guaranteed payments.

I normally do not encourage people to forrm entities for real estate, but if I were investing out of state I would have the out of state investments placed in an LLC chartered in that state. 

A single member LLC is by definition a disregarded entity by the IRS.

., you, your spouse, family members, or certain business entities tied to you).

Because the owners of Licensing Experts pay ALL CASH, the closing usually occurs 3-6 weeks, which is very fast compared to traditionally financed commercial deals I've seen on Bigger Pockets.The whole thing hinges on their very clever technique of getting existing commercial retail tenants engaged, willing to move into their newly acquired properties who are coming up for a lease renewal or lease expiration, rather than marketing for new commercial tenants - which would take way too long.Licensing Experts is somewhat of a "front" for their Mentorship Platform, as they evidently have many of their own separate entities for which they use to actually purchase and close on their commercial properties assigned by their mentees. 

@Ed Hoffman, I believe for an entity like an LLC to do business in a state outside of where it was formed it needs to register in that state.

And you should never create entities without having a clear business plan of how such an entity would benefit you.