@Fred,Your LLC could sponsor a Solo 401k.This would allow you to take income you generate from flipping personally with your LLC and make new contributions to the Solo 401k, thereby reducing taxes on your personal flipping LLC.The Solo 401k could accept a rollover from your current IRA and/or the other IRA you mentioned you have.  

@Tea MarieInteresting question because the pre-tax 401k contributions reduce your annual taxable income. 

I understand that a larger initial down payment would reduce the monthly mortgage costs, but that just means I forgo more cash upfront which still factors into cash flow.

Asbestos siding to reduce fires and damage and lead paint to be longer lasting:-(

If you find a place that reduces that significantly even with you coming out of pocket a few hundred a month, then it's worth it because you will still be saving money each year.  

.- other than reducing seller's taxable income, what are other reasons why this option might be attractive.- what kind of rates have you negotiated.Share your story!

Resale of the home will be extremely difficult and reduce the property value by tens of thousands. 

Tenant paid water would reduce your overhead costs and it seems like it would fit right into the overall cost profile for the tenants if their rent is so far under market.Jim.

My housing cost, while I live there, will be reduced once I do this.

I have about 8-9 feet of ceiling height and I'm not sure if I can put a barrier 6inches to a foot to reduce the noise transfer.