Prohibited Transactions with a Self-Directed IRA/LLC

[Tim Criswell]

Is it "IRS legal" to buy a distressed property with a self directed IRA-LLC, hire a contractor to do all of the rehab., hire an atty., a realtor and other third party services to process the documents, and put every penny of profit back into the IRA the money came from without disqualifying my IRA? And if the answer is yes, is the line to do it properly/legally so tight, that I'd be better off doing it with funds that won't get the tax benefits?