Assuming these are for short-term loans, such as for flips, @Keith Groshans, you could do what we do and let the borrower keep the money and pay everything when they sell the property.

Long term, your property is going to up in value; likely way up.

And it found that over the long term, real estate trounced treasuries and bonds.

I'm Renee and I am a real estate investor and agent in greater Long Island NY area.

If you're goal is a long term hold, you're almost certainly going to do well even with a market rate deal in any of those states.

I am also doing a live in full renovation for a long term rental where I am project managing mechanical items and doing a lot of the interior renovations myself. 

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

Many people choose Memphis because the market offers a good balance of cash flow and long-term appreciation.

Finally from a purely from a cash outlay prospective short term, you could rent a house with roommates and your payment would still probably be Lower than house hacking because rates are so high, over the long period 5-10 years obviously it would cheaper ti buy, hope that makes sense 

But, if steady long term cashflow is a goal, with no management, one can always sell farm land on a low down private contract.