Talk to a CPA.Yes there are depreciation implications, as you would basically be stepping into the shoes of the previous owner of the LLC.

He basically said it was way more hassle than it was worth because of the extra filings because it makes me an scorp now.

You can even find some basic wills online for pretty inexpensive. 

I understand the general idea of the SDIRA and even the basic regulations Carl has discussed above.

So, after way too much preamble, my question: Is it worth doing a BRRRR deal where, you put down 100% cash (by pulling it out of other properties, assuming I can figure that out) on a house for about $950k, renovate for $250k or so, refinance on a property now worth $1.4M but then basically just are cash flow neutral after?

It basically zeros out the largest expense any household has: housing.

Hi Everyone my name is David Gamble and I’m a engineer students that has a year and a half left in school and I’m looking to purchase a multi family home which I’ll be living in one unit and will be renting out the other unit.

Hey @David Gamble, Welcome to BiggerPockets!

Now I've seen many contracts which look very basic.

It basically eats your profit and you pay less taxes.