I've found that your team is your most important asset when investing out of state.  

(The same thing can be accomplished with a different type of trust to keep your name anonymous for the actual LLC, also.)The OP of the thread would still need to deal with the franchise tax from CA, there are other strategies to work around that fee while still keeping your assets protected.

in a tight market this is a tough gig.. and being a licensed agent that puts the same time effort and money into just getting retail listings will do far better than most wholesalers that spend a ton for each deal.. and have to constantly be marketing.. there is no real referral advantage to a wholesaler.. they beat up a seller.. the buyer your only as good as the deals you bring so they kick you to the curb.. and use you... where as setting yourself up in the business opens up many doors and avenues that you can work in all economies..

Lenders don’t just hand out insecured LOC’s willy nilly.....and your overall financial strength (liquid assets) have more to do with it.

Would a lender simply take the asset back as their own and sell it to balance out or, are the heirs then responsible for the remaining balance?

As a RE investor is there a benefit to obtaining a Real Estate license ?

However, I have been considering obtaining an LLC for my protection, but I do realize that big banks will not loan out to me if I have an LLC.I was wondering what your thoughts were on whether I should get an LLC and find a new lender or hold off on the LLC?

@Andy MirzaThe ERISA plan asset rules may come into play if pension funds are used unless the funds main line of business is the development of real estate (REOC), or the fund is a publicly traded company registered under the Investment Company Act of 1940.To qualify as a REOC the fund must invest at minimum 50% of its assets in qualifying real estate considered managed or being developed.

Once you have the cap rate, ask those same agents / brokers for multifamily rent comps that are comparable to the asset class you are targeting. 

Hey BP Community,I'm trying to figure out how much cash I'll need to raise in order to obtain a commercial loan and be able to close on a light value add property.