Stay active and engage the community.

- If you have a real estate LLC, does the LLC have to issue 1099s since rental RE is the trade or business the LLC is engaged in?

They will not only be able to send you multiple deals, but teach you a lot along the way.

So read up, engage, ask questions and when a deal falls in your lap, post the numbers and details so we can give you some advice.Happy investing,Glenn

Mike has some valid points, though I do not agree with taking it out to cash and paying both the tax AND the PENALTY (additional 10%).Also, I do not agree with others on rolling over to an IRA (unless that is your only option) but rather, rolling into a solo 401k plan which is a self administered 401k plan requiring you to have your own business without any employees other than you and a spouse (or multiple spouses if you live in Utah - J/K) :)Advantages of 401k over IRA is ability to place more in each year (contributions that is), borrowing provisions (IRA's do not have them), and company matches to contributions.If you were going to take it out and take the hit, i would only recomend doing so by rolling into a ROTH solo 401k plan.

Welcome to the site, glad you decided to engage.

I tried hard and this has happened multiple times already.

. $10k/year definitely should earn you multiple mentors(with a reasonable level of proactiveness to return phone calls/emails and ensure that you are not forgetting to dot the i's and cross the t's that you are unaware of) to work with.

With that much equity, I presume you could buy multiple houses.

You do not want to pay a 30x multiple for the land underneath it.