Question Regarding SD IRA Checking Acct

[Kevin L.]

I have used my ROTH, housed at Equity Trust, to invest in properties. These properties require extensive renovations. Getting to the funds and paying contractors timely is an issue with ET and assume this is an issue with other custodians as well? Its more than just paying large contractor bills... smaller transactions like trips to the hardware store for light bulbs for instance. I've tried to pay for them with my cash and have my IRA pay me back, but ET says that is a no-no.

At the advice of my accountant, I have set up a checking acct for my IRA at Wells Fargo. For an investment, I withdraw all of my ROTH funds above and beyond the purchase price of the property. I pay for the property and put the excess in the designated Wells Fargo acct to use for the rehab.

When the property sells, I put all of the sales proceeds and any remaining balance of the WF account back into my ET acct.

Am I putting my ROTH in jeopardy or is this OK? Everything is meticulously documented.