They will be the pit stops for the most successful touring musicians- and the path to stardom for the young and aspiring artists.

Essentially this is a special purpose, single member LLC that your IRA owns and you manage which enables  you to bypass the custodian and have "checkbook control" over your IRA.If you are self-employed or own a business w/o full time employees - you will find truly self-directed Solo 401k to be most beneficial for you.

The short sale process would enable the sale of the house as the Note holder would be forgiving a portion of the remaining balance. 

Your cash flow may be greater and enable you to make it happen.

I want to add that I am a musician, and that this has been a "music scene house" for 15 years. 

This typically enables us to find a new renter before the previous one leaves.

Today the 2.5-acre studio is a private residence and belongs to actor/musician Jared Leto, who is known for throwing parties with his own type of “atomic” energy.

As your income starts to grow so will your tax liability, great way to offset that would be self-directed Solo 401k plan, which will enable to you shelter up to $58K annually. 

What set of special skills in the business do you have that could assist or enable cross-partnerships to grow other than just having a license? 

A thriving business enables you to be more generous towards those in need.