Do you think that getting an ABA JD and then an online LLM would help going solo?
Would it impress clients and give extra knowledge? Or would it be a waste of funds?
It would be a waste of funds (and time). Do an LLM if you *love* the law (and probably not even then) or are in tax law and your firm is paying for it and "suggests" it (rare). If you really want to teach law, try to get into an SJD program (rarer still).
Many good points in the discussion, but there's a bigger issue still: practicing law well (quite aside from being able to find clients for whom to actually practice) requires skill. This skill is not only not gained in law school, in many ways law school is a distraction. Thus, recent graduates face (at least) two additional burdens: they don't know what they don't know, and they might not care about what they don't know. I'm not being flippant; learning what is needed to do even a proficient job requires dedication and an open mind and eyes and a genuine desire to learn and an understanding that you probably won't have a draw for much of your first year, at least, so you'll need to work an extra job *in addition* to working harder than your adversary--a desire greater and beyond what was in even the first year of law school. If that describes you, excellent. I would be happy to practice with you. For everyone else (which, be honest, is nearly everyone else), don't do it. Don't do it for your clients, for your colleagues, and for yourself.
If you're going to go this path, check out an appointments practice with a local court. Get to know the players, and put your name in the hat. It's hard work, and an eye-opener. With the above conditions, you might become quite successful indeed.
For the 97+% of everyone else, read Insider's Guide to Getting A Big Firm Job, ignore the title and find yourself a small-firm job instead, or a job with an agency, or perhaps a job tangentially related to the law. There is still a cachet in being trained in the law, and presented right (especially in a market such as this), you can do very well in a non- or quasi-legal position.
If at some point you feel the need to express yourself (and make more money) through a private practice, go for it. But go in knowing how much work it will be and how much harder you will have to work to match what the big boys and girls have.