Having some asset (like medical offices) “back your investment” is a little different than wanting to be a silent partner in the local dry cleaning or boutique smoothie joint.

It was mentioned that asset has to be new for bonus depreciation, but starting this year both used and new asset qualify for the bonus depreciation.  

Congrats being debt-free @Elsa M.This will completely depend what type of assets you are buying for what price & terms and who will be managing it. 

However if they sue you personally, the LLC is considered an asset and can be accessed. 

To be more specific, the questions I am looking to have answered are along the lines of:1) Do we obtain a mortgage in our own name, or LLC?

The hard money loan would be leveraged against the house just like a regular mortgage as that would be the only way you could obtain a HML.

Or if your okay with your valuation and want a stabilized asset because your capital or investors capital is a 1031 and/or has an expiration, then i would potentially look at doing the deal. 

Also thoughts on obtaining a real estate license this summer and trying to sell a few homes in the fall before graduating?

The IRA would have to cover any expenses such as mortgages, property taxes, etc.An IRA must obtain a non-recourse loan, meaning no personal guarantee from you. 

There is a big difference between accounting manager and account manager; account manager doesn't imply someone with an accounting background.It's better to find someone overqualified than someone who doesn't know the difference between asset and liabilities and operating and finance activities.