I suppose if you invest long-distance, this could be a valuable tool to leverage. 

Thanks for the valuable feedback again @Chris Seveney, @Paul B. and @Jay Hinrichs.If I decide to do this with another partner (friend of mine) but no syndications is there a need to have the PPM and be compliant to SEC rules.?

The gains will grow tax free.

Thank you so much for your valuable input.

Now, successful people on BP want others to be successful and that is why they are taking their valuable time to help people out, but they aren't stupid either.

Please, don't get emotionally tied up just because you feel you've already put in so much effort in gaining rapport.

I’ve seen it time and time again, so in my opinion an investor is someone who risks something to gain something.

@David DavidsonAn LLC is not required for a SEP IRA, though you may want one to gain checkbook control.

I figured I need a one year track record on paying the loan as a rental to accomplish this.Two very valuable prices of info you all have given me:(1) it's actually a terrible investment cashflow wise.

If so, then from your perspective the transaction is treated as though the LLC distributed all of its assets to the members (including you) in liquidation according to the distribution provisions of the operating agreement, and then you purchased from the other members the assets that would have deemed to have been liquidated to them in this hypothetical liquidation scenario.Of course there are some complexities here (are there any built-in gains?