Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Also, if self-directed companies offer any events of their own or are invited to speak at someone else's events, there's a high chance you will meet private lenders there as well.

The difference between your adjusted cost basis and the net sales price when you sell is the profit you will pay tax on.Tax when your primary intent is to flip is at your ordinary income rate which could include federal, state, self employment, and ACA surcharge (as much as 40% depending on where you live and pay tax).  

Definitely hook up with @Shaun Hunt and see if you can share resources.Your experiences are both educational and a bit of self-discovery about where your risk level is. 

There may be a further due to find out if he can transfer the property title to LLC once the property is paid off (The repayment plan is in 3 years or less) or have it transferred to LLC once the company has had the sufficient time to establish its credit but that would of course mean that we would have to pay for underwriting twice.If there is a blindside to this I am not aware of please freely share your thoughts.2.

California subjects estates to probate at very low thresholds, and often having a Will is not sufficient to avoid probate.These are all things you will want to discuss with your attorney and CPA.

Honestly, those are sufficient enough....I received more calls than I could handle (a bit overwhelming lol)

Its a great size for beginners, you can self manage so you will learn a lot etc. so i am thumbs up as long as it pencils out in analysis.

Being self-employed is notoriously tough to get funding, but it is possible.

a salary before taking any money out- Self employment tax is not due, as the only income of the LLC will be rental income- If the LLC shows a loss in the first year it will be easier to carry this over to the next year if not taxed as S corpThankful for any advice!