I live in Henderson Nv and I want to form a self directed IRA/LLC for the purposes of purchasing a business, and possibly real estate.

For now, while I rebuild not only my finances but also my life, it's the perfect place for me, and anything comparable would cost far more to rent and I have no intention of renting when I work from home and love my location already. 

This plays a big part in determining the value of the land for development purposes. 

Also, this wasn’t part of your question, but how do current rents compare to market rates?

(Rule of thumb suggests that falling below 1% gross return per month makes it increasingly hard to cash flow positively on average, when borrowing to the max).A similar question: Are you getting a bargain* (compared to sold comps)?

This BP analyzer is pretty superficial...If you are wondering if you should pull the trigger, you'd need to have a set investment criteria, and then we'd have to ask if the deal in question meets those criteria...this is a residential property valued by comparable sales...CAP is irrelevant entirely...Cash-on-cash merely puts your property on the same level playing field as other similar properties for the first year...it doesn't truly dictate a good deal.

@Jason DiClemente Assuming the LLC is treated as a disregarded entity or a partnership for income tax purposes, then this transfer should be income tax-free under Section 721. 

You should read the lease contract, see how much the monthly payments are compared to what the electricity bills were before solar at the property, look for a fixture filing or lien in the contract, and go from there.

As a rental unit it is pretty bad to invest in compared to apartments, the competition, and financing. 

NYC uses a magic formula (statistical analysis) to figure out how much your property is worth based on comparing size, style, and age of your unit with your neighborhood.