Let's assume for illustration purposes that the taxable LLC and the self-directed IRA form a new LLC with each being a member. 

THEN from that form a K-1 is generated for each partner.

Should I form a LLC.?

@Chris Sacking It looks like you want to form a Joint Venture (JV) with your GC, which is essentially a contract for a one-time deal.

With the SOLO401Ks not having the same tax issues as SDIRAs when using leverage, would it make since to 'start over' with SOLO401K accounts (we all would  qualify) and form a new LLC with the new accounts being owners again?

Once you reach your max, *then* form a new LLC and start over.

Overall, I walked away impressed, but neither the pro forma nor my leveraged estimates gave me a clear CoC Return that was strong enough to jump.  

Hoping all of the experts on here can help.When it comes time to divide the profits, is it possible we could form a LLC along the way to dump the profits into?

Peter has been reporting his rental on his personal Sch E, and so have the other 2 people with their respective rentals.Now, years later, you want to form a PPM LLC and start treating all 3 properties as owned by the LLC, resulting in an equal 3-way ownership of all 3 properties.To answer @Ashish Acharya - unfortunately, I have dealt with this scenario, more than once.

A professional service firm that advises a taxpayer just starting out to form a C Corp is doing the taxpayer a large disservice.If you're willing to spend $2,700 on professional fees for consulting at this point in your career, you can get much better advice from professionals who listen to what you're doing and want to hear your goals, then recommend a legal entity structure and/or a tax entity structure that is actually beneficial to you.My practice has found that under the TCJA:-C Corps rarely make sense and the best arguments for them over S Corps are usually qualitative rather than quantitative.