We'll make enough in June and July in excess of last years numbers to offset lost revenue from Covid. 

My LLC is in its very early stages right now. 

I would recommend skipping that stage and moving straight to BRRRR. 

To set the stage I'm a rookie with a full time W2 job, but with COVID I have had some extra free time.

I am not much further along than you are currently on your journey but would love to share what I've learned and some things that have worked well for me here in the early stages.

This would allow you to spread funds across a few institutions to stay under the $250K FDIC limit in each.Of course, if your intention is to invest in assets such as real estate, you need to consider how long you would actually be holding in excess of $250K in cash assets, which are all that are covered by FDIC. 

You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-EZ for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.

Pros:-You have funds lined out-It forces you to have a plan and stick to itCons:-funds are released in stages-the communication piece in this can be daunting for a newbie with the back and forth between issuing bank, contractors, and your own family throughout the projected timeline and ensuring monies get to everyone at right times.I’d say, the juice is worth the squeeze, but just know it’s gonna be a pressure cooker in experience and growth that you probably weren’t bargaining for.

Go to REI events if you aren't already and spend the time shaking hands (post-COVID) or elbow dipping and learn about what your local investors are looking for instead of looking for a way to automate something that sellers will not want, like excessive texts from an app.

I am now in the stage of marketing this rental to potential tenants for 12 months.