Yes, any income derived from other states you will be required to report.

Commercial investing is in some ways easier because the value is usually derived from income based appraisals, instead is sales comps...usually, not always.Meaning if you can get expenses down and revenue up you can force appreciation.It can also come with much longer vacancies, and can sometimes be hard to sell.

And, working the logic backwords, if you are convinced that holding is the best option, shouldn't we derive from this that you are in fact bullish on the economy staying strong...?

The Solo 401(k) also has the advantage of being more favorable for real estate investments using debt-financing such as a mortgage - as the 401(k) is exempted from a small tax called UDFI that an IRA would pay on the percentage of income derived from the borrowed money.So, as you continue your research and get feedback here on BP, think about what type of program will best suit you needs and be sure to ask questions along that line.

Flite came about as play from our previous LLC names deriving from airplanes.

This does bring up a good point, if some of your income is derived from passive investment activities, it may be better to wait for your taxes.

My management fee that is derived over the course of the arrangement will pay for my stake in the property not to exceed 50%.

It's a way of saying "people in the market are willing to get 4% return on net income in an A area in this market, so if I know the net income of the 6 unit subject property, I can derive what someone would be willing to pay i.e. what it might be worth".Incidentally, when people talk about the "income approach" as one of the three appraisal methods (the others being sales comparables and replacement cost), it's usually introduced for exactly this scenario - that there are usually plenty of comps for 1-4 families and buyers are more likely to look at recent sales of similar properties to determine what they'll be willing to pay, but once you start looking at 5+ units there are both far fewer comps and the buyers are investors who really are looking at cash flow more than similar property sales.Anyway, I hope this helps.

The gains are tax-sheltered inside the IRA.If leverage such as a mortgage is used, then the IRA will be creating Unrelated Debt-Financed Income (UDFI) and will have a tax filing obligation.If the IRA is receiving income derived from an active trade or business as opposed to passive rents, that income could be deemed Unrelated Business Taxable Income (UBTI) and will require a tax filing. 

Decision fatigue will become your middle name.If you have developed a financial model and derived a property description, any property you look at either meets or doesnt meet your model.