80 Unit Multifamily partnership and SDIRA

[Bernie Huckestein]

Checking to see if the following would be permitted under SDIRA investment, using an 80 unit complex as example. I have a solid albeit general understanding of SDIRA and disqualified parties etc. I do have a SDIRA set up which is funded via the an IRA owned LLC. Please consider:

• Looking to partner with 2 other individuals (no family connection whatsoever) on an 80 unit multifamily -- party A being my SDIRA LLC
• Each party will contribute 1/3 of the required funds and have 1/3 ownership---this is not a syndication but a partnership
• Balance financed via non-recourse agency debt with one of the other partners being the Sponsor 
• Property would be purchased under a separate LLC with equal ownership
• My contribution would be made not from me but from my IRA LLC -- not sure if this would be a loan to the joint ownership LLC or my SDIRA would need to be on title
• Normally a deal like this could and in this case would be structured with a couple of additional expense items:
  
  • An acquisition fee and potentially a disposition fee upon sale say 1.5% to the individual putting the purchase or sale deal together
  • An asset management fee (this is not a property management fee but more of an administration / manage the manager fee)
• These fees typically go to a designated member and/or the person that puts the deal together (me) but technically I suppose it could go to another 3rd party -- it is not part of the asset value they are expenses 

So my questions:

1. Can I be the designated person to oversee and collect these fees?
2. If so, would I be able to collect fees personally or does this also need to go back to my SDIRA?
3. If I can be this designated person but funds need to channel back to the SDIRA does it have to be 100% or can I take 1/3 (since this is the SDIRA's percentage of ownership) send that back to my SDIRA and keep balance directly?

Under a normal 100% SDIRA deal I fairly certain I can't be involved in the day to day management and/or swing a hammer for rehab etc but I can be the one who designates which Property Management company and/or contractor to engage...seems to me this is the same thing; however, due to the size of asset and effort required for managing the partnership it is significantly more involved --   I really don't want to do this without some sort of compensation either directly or back into the SDIRA.

Appreciate your thoughts  --  Bernie

[Dmitriy Fomichenko]

@Kon Zel - that's incorrect.

@Bernie Huckestein - you are considered to be "Disqualified Person" to your IRA. IRS rules are very clear: you are not allowed to provide any services to your IRA nor receive any personal benefit from the IRA. Study this:

https://www.irs.gov/retirement-plans/plan-particip...

While you can invest in this deal with other partners, you personally can not be the manager, sponsor (or however else you want to call it).