I still want to improve my cash flow to the point where I can retire, but I'm now under no illusions that it will be a quick or easy process. 

Have you considered reaching out to anyone you know (doctor, lawyer, dentist) that may have a retirement nest egg that may be willing to invest in you as a private lender?  

We are not looking for retirement income at this time.

The previous tenant was a local repair shop business that closed down because the owner is retiring.

If you want cashflow for retirement, then focus on that.

I guess ideally my end game was to own about 6 properties out right, where i can draw about $1000 from each property per month, I feel like 6 property is enough for me to retire if i choose to, but still small enough where i can manage it all myself.thanks

We would reduce our annual expenses down to $15,000-$20,000, invest in index funds until we had a healthy nest egg, look into all kinds of other real estate investment possibilities, and retire in a few years.

LLC Operating agreementInvestments agreement Receipt - (proof of your investment)Promissory note (if needed)I don't need legal advise. my father is a retired attorney.  

Those looking to invest their 401k funds in real estate through a 401k loan can learn more about the loan rules by visiting the following IRS link. https://www.irs.gov/Retirement-Plans/Retirement-Pl...

@Gina CresseSee following link to lean about the prohibited transaction rules.https://www.irs.gov/Retirement-Plans/Plan-Particip...