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Updated almost 3 years ago,
Self Directed IRA to purchase trailer in my MHP
I would like to purchase a mobile home trailer from an individual that is currently renting a lot in my MHP using my self directed IRA. The MHP is held in an entity with a partner and not in my name. The goal would be to fix/flip the trailer in my name/IRA. If I'm not collecting any lot rent during the renovations/time to sell, would I still be considered a disqualified individual?
The IRA custodian stated I would be a disqualified individual and another more experienced investor disagrees. Advice please.