@Wes Blackwell Great points and I tend to agree with you from a common sense persepctive.

As Chad mentioned Maryland is difficult as well but I have 20% of my portfolio there as I took the time to understand the rules and put a kick *** team in placeIf you are new to note investing them I agree wholeheartedly with the other comments - once you get some experience then you can decide where to continue to grow.

J Scott I totally agree with me financing my self part.

It is like any other contract you are agreeing to terms.

It was a nominal amount of 729$...but for the sake of being fair I'm trying to gauge what the collective response would be.I agreed on listing the property for no fee (on the listing side) after repairs but ultimately my partners feel that the money from the buyers commission should be treated as profit to the LLC.  

But if I got a non-recourse loan and I agreed to pay, say, 8% interest plus 15% of the profits then I would have to pay UBIT.My question was then whether or not the reverse applies .. is there any issue if I want to lend out of my 401k to another investor and receive interest plus a percentage of the profits.

In my case, I don't use an LLC for my real estate holdings. but use an LLC for an active business, an S Corp. with a DBA for 2 different businesses, and a C Corp, since closed, for real estate management.In my view, closing one and opening another would involve paperwork and fees, but keep your accounting much cleaner, as you probably agree.

I'll agree with @Ashish Acharya here: if you're wanting to sell the property primarily as a way to get some tax-free cash, then yes, sell within three years after moving and you qualify for the $250k(single)/$500k(married) Sec 121 exemption.

Unfortunately, so many areas are just sitting vacant because I definitely agree that the character and architecture are awesome!

I nearly always agree with Julie McCoy who has become a close friend thanks to BP but I have no interest in a “website” I do have a url that links directly to my AirBnB profile but that’s as far as I’ll go for now.