From the experience of others, would a simple, personal LLC where I lend money on projects and report proceeds as income or short-term capital gains constitute a 'business' and make me eligible for a solo 401k?

I am going to the courthouse in the morning to fill and file the paper work.

My .02$As a experienced wholesaler, Im not sure your concerns are necessary.To ThomasThere are other expenses like marketing,buying leads, my phone, paper, ink, internet service, etc. etc. but all these things are just tallied up as cost of doing business.I use the same formula as above but sometimes I use .65 depending on the motivation level of the seller.Taxes are pro rated at closing, I dont buy any insurance (why would you?)

Keep it simple. keep it going, and keep learning.Take Good Care,Jack

He understands creative real estate.Creating an LLC is a very simple task.

I've found some great papers on academic journal type sites.

Issues like the security deposit and prorated rents are often missed and can be more than a simple fix in some situations.

Have a carry over rehab scheduled to close next week.Going to be signing a lease for a vacancy in a place probably Tuesday.Going to file for possession for another rental that I bought at a tax sale to get the dirtbag residents out so I can turn it (Not conjecturing on them being dirtbags, one of them was in the paper last week for robbing someone at gunpoint for $40).Have another rehab that I closed on the week of Christmas about halfway done despite lots of weather challenges.Nothing new under contract but have made about 60 offers already this year.

Even if HML or syndications were on paper the easiest methods, they would still be harder for me because rentals resonate with me over those.

Im a US citizen, BTW.I know I can wire funds from my bank from any country, but Im not sure if the closing papers need to be notarized, if I need to sign anything at all, or if electronic cash closings exist.