Anyway to keep this post shorter I met with him and he gave me some great information and at the time I was actually transferring to central Wisconsin and he had a friend from the area, Derek Dombeck, so from there I got his contact info and when I transferred the following semester I got ahold of Derek and during that first phone call of talking with him he offered if I wanted to attend a REIA that he was hosting 2 hours away.

Would I need to get a new bank account for the LLC and is that difficult to transfer money back and forth between the LLC and myself?

Would I need to get a new bank account for the LLC and is that difficult to transfer money back and forth between the LLC and myself?

If you think you will go FHA, Conventional, FHA 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

I am moving to Oregon this summer and will be transferring to a university up there so i will take a cut in bah unfortunately.

I'll add a couple items - while you cannot transfer Roth IRA funds to the Solo 401k, if you have Roth 401k or other qualified plan funds, those can be transferred to a Solo 401k.As far as creating self-employment activity, there is no minimum amount of work or income that is required.

In CA as long as your are not soliciting as an agent/broker, marketing as an agent/broker, selling as an agent/broker, and you actually have properties under a signed contract (from all required parties) with the and/or assigns clause, you can transfer your equitable rights and interest in the contract to an assignee.Consult with a professional attorney prior to engaging in any activity tho.

Through my initial research, I was under the impression it couldn't be used for business purposes (how would I transfer it under my LLC?)

I faced this same decision twice in the past 6 months, kept both and did the BRRRR with them.  3 main reasons I did this 1) I want to build cash flow and both were in good locations 2) I don't have a consistent enough deal flow to feel confident I can put the money right back to work 3) I didn't need the money from the sales to fund the next deal.I regret having sold every piece of real estate I've ever sold (past primary homes).

Or for him to transfer the deed to me without any money but have in writing that he will get "x" amount when the property is flipped?