For the federal credit, the building either has to be a contributing element to a NR district or individually listed on the NR.

Compared to the IRA, Solo 401k contribution limits are roughly ten times higher and there is no custodial requirement for the 401k.

I’ll contribute my limited two cents as a very early in the game investor.

I've learned a lot already and hope to be able to contribute in some way.

I love so many things about it.I look forward to interacting more with you all on BP and hopefully contributing in some way.

@Sandeep JainYou should get an appraisal/valuation done on the property so you and the partners know how much the property is worth today.Transfer/contribute the property into an LLC and have the others investors put in a contribution(Cash).Speak to an attorney about drafting a partnership/LLC operating agreement.Speak to an accountant about preparing a partnership return and providing a K-1's to each partner/investor on a yearly basis.

Some states, such as Texas and Florida, have unlimited protection for all money in any retirement and or pension account, as long as the contributions to the account were made in adherence with Federal guidelines.

These repayments will not count toward annual contribution limits. 

Thank you for contributing!

Tax wise, you'd most likely be forming a partnership if your parents contribute equity (unless they are just gifting you some money).