Question on Checkbook IRA

[Kevin S.]

Hi BP members,

Anyone know why certain states are excluded from RE investment in SDIRA account?  My state is on the list.

Is Checkbook IRA breaking IRS rule in any way? It is offered as a way to bypass buying RE in SDIRA? How is that?

I read that companies offering a checkbook IRA LLC set up package cost more than that set up by an(my) attorney or CPA. Is that true?

Last question is within the previous question. I didn't know CPA can set up LLC? Is that true?

Thanks in advance.

[Jeffrey Dixon]

When the IRA makes the purchase, the custodian is involved with every step. When you use the LLC to make the purchase, the custodian is not involved. It is faster to buy the property and pay the bills using the LLC