If you are doing private lending, or investing in other partnerships or LLCs, you don't need this, your IRA can invest directly.

You can go with a partnership as well to put in the capital and have less of the day-to-day management.

Determine investment strategies like buy-and-hold, short-term rentals, BRRRR, or partnerships, analyze numbers, consider creative financing options, build a strong team, and start small and pivot as needed.Good luck!

@Nik FarooquiTo maximize value in construction markets like Akron and Bessemer, consider strategies such as flipping, renting, local partnerships, and joining investor groups.

You will walk away with knowledge and potential partnerships. 

The transfer to the LLC is to make the partnership equitable among the three  groups or six people. 

Anyone interested in a 50/50 partnership to grow the portfolio?

I know they did not start out to steal or do bad things but they started robbing Peter to Pay Paul and once you go down that slope pretty tough to climb up.. they ended up in massive trouble and the partnerships were all sold off with massive loss's.. but it was not a contrived scam..

For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.

How much experience do you have with Partnership tax returns?