Sorry to confuse you but, bottom line is, LLCs are not tax saving vehicle, they are for asset protection. 

If this is what you have been looking for and you have talked to the seller and found out his story of retiring from the game, looked at the numbers and it makes sense for your "WHY", then all that is left is to execute on the deal and stay on course with your due diligence on the asset itself. 

Then they will pass on their discounts on products and you can be sure that things are getting done correctly. 

Any recommendations for specialty hardwood resellers or folks carrying discountinued hardwood products at a bargain? 

You were handed a $1.1m asset that has $320k in debt on it. 

If so, then from your perspective the transaction is treated as though the LLC distributed all of its assets to the members (including you) in liquidation according to the distribution provisions of the operating agreement, and then you purchased from the other members the assets that would have deemed to have been liquidated to them in this hypothetical liquidation scenario.Of course there are some complexities here (are there any built-in gains?

Believe me I wouldn’t be flying across country for nothing.As for what you do, I have no doubt from your words that you are a man of integrity and offer a good product.

That way you're adding to your assets and getting a good return.

The cap rate or rate of return investors require to own an asset will rise when lending rates do. 

Does anyone have any experience with this loan product?