I am getting into investing as a way to simplify my life.  

@Jackie Botham I think if I were in your shoes, I'd simplify. 

The rate at which such income is taxed is the cap gains rates.Solo 401k simplifies this, as it's exempt from UDFI on real estate acquisition indebtedness.

I have personally negotiated several recent sales at +25% less than initial asking price and several owners that would consider or even prefer owner financing to simplify the transactional process. 

Unless you are one of the very rare people able and wanting to fill up their days and nights with intensive, time consuming and exhausting numerous monetary pursuits I don’t see how your accomplishing your goal of simplifying and downsizing your life.

Yes it can be done and something that simplifies it would be doing a quit claim deed into the LLC that holds it, and simultaneously refinancing it into something with a new lender.  

He had simplified what you will mainly need to know about starting an LLC.If you ever need any help or have any other questions don't hesitate to reach out! 

But I have 25k in depreciation expense from all of my real estate investments (and to simplify things, lets say all of my RE investments are exactly break even)In this scenario, is my taxable income $100k or $75k?

No offence, the BiggerPockets hosts are amazing and simplify things and are so motivating, but NONE of it applies to Canada (well thats my impression anyway) - foreclosures, buying under market value properties, underwater mortgages, even to some extent wholesaling, etc, aren't really things in Canada. ( I mean sure, there are properties out there that are in distress dont get me wrong, but I feel like even those properties are going to 500,000 lately!

Seems as though it would simplify the decision making process.