I feel I like have to keep this as a buy and hold.Currently the property is owned by LLC 80% and Solo 401(k) 20%Some banks wanted this property to be on a separate LLC and some did not like the fact that it was part owned by Solo 401(k).Please can any one suggest any options I might have ?

The building has separated meeters for elrectric which the current owners pay for.

I'm surprised you were not provided the lease agreements as part of your due diligence, but that's a separate issue at this point.

Bill,I guess I should of seeked professional advice before buying the property because I did not separate the cost of land and cost of structures of the property in the real estate contract.

Hello, We are interested in either buying an existing or new construction of a warehouse-type, modular construction building to use for a business that would require build out of separate small office sized rooms with HVAC.

There's no need to keep them in the dark.You may also want to have a separate document that states that the lease agreement that they are signing with you becomes null and void if the transaction does not consummate/close.

Is there money to be made by subdividing the land and making 8 separate parcels?

Just wasn't sure if I should include my monthly management as part of the equation or as a separate line item.

Instead split the rental income 3 ways or consider a Family Limited Partnership.If you have a business, always have the real estate held separately from the business.Feel free to ask on the other tax matters.

My actual rentals will sit in a separate LLC that will elect as a partnership.