Need Advice - Best way to purchase Duplex via IRA?

[Matt B.]

So I have set up an IRA for RE Investing. I now have the opportunity to buy a duplex. It will be under market value, need about 20k in repairs, and will be cash positive What is the best way to structure this? I am looking for advice on the best way to structure the purchase and the insurance, while protecting my assets within the ira. Ideally I would like to explore the different cash vs financing options that would be available (I am new to IRA investing). Would an LLC within the IRA be overkill? Would a land trust help with shifting funds for purchasing? My attorney who set up my IRA is referring me to a CPA to help but I would really like to hear how others have gone about this. Thanks!

[George Blower]

@Matt B.

The IRA LLC is a good fit if you are trying to limit custodian involvement; however, from a liability perspective it won't matter because IRAs are already protected form creditors in South Carolina. See  S.C. Code Ann. Sec. 15-41-30(12)

In other words, you could open a self-directed IRA and invest it directly in real estate without first using an LLC.