There also might be other legal/insurance considerations you want to factor in as others have pointed out.

It’s great that you're exploring private equity as an alternative to traditional lending due to your religious considerations.

Max occupancy is a considerable factor driving your property revenue potential. 

Remember that the more complexity increases not just legal set-up and ongoing fees, but tax prep and advising fees as well.There are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

As noted above there are many other considerations in deciding between a home that is new or existing.

Legal and Regulatory Considerations Thanks in advance for your help!

Now if we take into consideration the recent cut in the Federal Funds rate and rhetoric that there is a possibility of 2 more rate cuts before the end of the year, what are you waiting for to buy your next (or first) property???????

Although I have not yet purchased my first tax deed property, I have been spending a considerable amount of time researching the tax deed sale process and the tools that can be used to streamline the process as much as possible- one of those tools being PropertyOnion.com.The website seems to provide a wealth of knowledge for pretty much any property you'd like to research, and provides data that could be useful to a variety of RE investors.

If you can stomach that initial phase you'll be in a great position when the property is cashflow positive and worth considerably more. 

Also, for your consideration, instead of cashing out the annuities, can you use them as a collateral for future loans?