I am not totally against LLCs, I just think you don't need them when you are just getting started because it just complicates the transaction and I am a fan of keeping things simple.

Sounds like it too complicated so not a large figure and a two family property.

@Pat GoodyearWhat was your anticipated exit strategy when you first started building your RE portfolio before life got a little more complicated with kids and a second job?

After explaining the below to his lawyer, the lawyer said it was very complicated with several tax implications (which we are trying to avoid of course).

If you could not come up with the $60-70k to close on the home, then I would consider doing a cash-out refinance or a HELOC from one of the two free-and-clear properties to fund it.Further, because this is the lens that I see things through, I'd go ahead and refinance my free-and-clear properties to redeploy the capital AND create a stronger inflation hedge.So, it really does go back to your personal goals, because ^^ might seem unduly risky, unnecessary, or perfect. 

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.House hacking will complicate your tax return.

The 1065 has become increasingly complicated. 

And then you had to go and start over complicating things and pre-selling how losses are ok, no, there not, a loss is a loss and it's no bueno, don't lie to yourself.

Is this a better option in my case, or this too risky/complicated for a newbie? 

I know that "tree law" can be very complicated and varies wildly from location to location.