LLCs can be as simple or complicated as you make them.

In my opinion, trying to get a line of credit on a property that's in the middle of rehab I think would be pretty complicated and not worth the time for the amount you would be granted (if you were granted something). 

Being a licensed broker complicates things...typically a conflict of interest and possible violation of licensing law and ethics when brokers start dabbling in wholesaling...agency calls for highest and best use as the starting point...but that's a state-specific issue....irrespective, we still have cannons of ethics.

The rules seem really cumbersome and complicated, and since I'm still fairly young (29 today), I'm considering just cashing out my retirement to just use to invest normally (likely in a multifamily deal) so I can take the cashflow as income (can't do this in self-directed IRA).

Lenders also have the ability to buy down rates and offer credits...so, you may have a losing battle getting accurate here assuming a blanket condition.Closing costs vary by property and location...as well as terms of the contract...that said, in the Midwest we typically average around 2% of the transaction priceInspections vary across property type...mainly the size...so a high-end inspector may charge $800 for an SFR, while a hungry new inspector may charge $400...and when you are moving to multifamily or or more complicated property things change...I'm typically paying around $250-$300/unit...but that's all multifamily.

If  you decline, it will go through auction and someone else might get it.Three years after the first auction, if the property has not been redeemed, you can file a judicial foreclosure lawsuit against the owner and all other parties who have interests in the property.

We then take an owner's draw from the parent LLC, which is a partnership.This sounds much more complicated than it actually is.

We have used for a couple of years and this year are switching our accounting over to it also instead of using the over complicated (for rentals any way) system that we use in our day jobs. 

Well. it gets more complicated.

A judicial sale is much cleaner than a Sheriff sale in Oregon, so buyer beware!