I received something in the mail from a tax attorney about appealing my taxes to potentially lower them and now am considering it for the first time.

Income received prior to that date would be considered rental income.Here's a good article on the facts and circumstances that would need to be considered: https://www.jmco.com/articles/real-estate/lease-options-sale...How it is ultimately treated will affect both the buyer and seller.

I am very impressed with your knowledge and will definitely going with your firm for the simpler 401k trust plan, and I will get rid of the LLC.Just for the sake of exercise, could anyone please still let me know if an IRA makes a private equity investment into an LLC and becomes the 100% owner of the LLC, and the LLC later receives tax forms against its EIN, will the owner of the IRA just disregard those tax forms?

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Either way, I would highly recommend seeking counsel if you aren't receiving clear communication.

This will allow you give a reference point on how much potential rent you can receive.

If you do decide to purchase a primary, a multi-unit property could be a solution in terms of receiving cash flow on the other rented out units. 

We've received a few quotes, but most are over $30k per unit.I've seen several posts on Facebook and Instagram BRRRR groups that do medium rehab for $8k-$14k per unit for both labor and material costs.

More specifically any info you can share around tools you use to receive applications, background & credit checks, analyze the applications and rank and rate the applicants.  

Plus the building itself must show receivables as a business or in rents to underwrite the NOI of the business, Rent rolls, and occupancy ratio if rentedHave you thought about starting small and simply buying some single family homes or 2-4 units and transition into commercial?