There may also be costs associated with setting up the accounting for the shells, and preparing inital shell formation meeting minutes, etc...You will also need separate bank accounts, and a war chest of money to defend them if/when needed.Ask your asset protection attorney vs salesperson for a quote on the cost to defend, and how much it will cost to move title to the shells.Find out if moving the title creates a taxable event for you with the IRS re.

In any case there is no taxable event yet.As far as your brother is concerned, it again depends on the nature of the transaction. 

We currently max out our Roth 401k, Roth IRA, and $2k per month into our vanguard taxable account.

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

These deductions reduce your taxable income, which helps maximize your profits.Finally, real estate provides diversification for your investment portfolio.

Since you're not working, you may qualify for REPS, but you need to meet the750-hour requirement and materially participate in your properties.The $300k withdrawal will be taxed as ordinary income, so using cost segregation to create depreciation losses could help reduce your taxable income.

In my research, default rates are pretty high amongst 401ks loans. 5) If you leave your employer and want to rollover your remaining balance to an IRA to be able to invest in real estate, known as a self-directed IRA, you have to either A) Payoff the loan first, or B) When you rollover funds, the loan balance will be immediately distributed to you, thus taxes and penalties, and you forfeit all that tax-advantaged money back in the account. 6) 401ks are generally covered under federal ERISA rules, which affords you additional creditor protections, from outside of the 401k judgments.

It is generally not advised to hold appreciating property such as real estate inside of an S-Corporation.Taking the properties out will be considered a taxable event.

It might also be worth looking into any federal or state disaster relief programs that could provide assistance, especially if the storms have been declared federal disasters.Hang in there, and I hope you find a solution soon!

I realize that, if true,  this is governed by state law rather than federal statutes, and therefore there will be fifty different answers.