Investment Info:Small multi-family (2-4 units) buy & hold investment.

I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow.

It seems like there are so many limitations to buying real estate with self-directed IRAs. 

I have the "Bidding to Buy" book next on my reading list, following by David Greene's "Long Distance Real Estate Investing" book. 

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

Are you leaning toward a specific strategy like buy-and-holds, flips, or house hacking?

I used to do essentially free consulting with new investors on it but gave it up for some of the same reasons - everyone thinks you can just sit at home and buy good properties across the country that are in great shape. 

I am a long-term investor with a buy and hold property in Brooklyn, NY and I also own multiple lands in Florida and Mississippi.

I’m currently house hacking and planning to buy my next property in about 6 months.

Would love some feedback before I make the initial buy in.