Short-term rental with self-directed IRA

[Amy Everett]

Hi! I need help! We hold a great rental property in a self-directed IRA. We split personal ownership with the trust at 50/50. So our tenants always write two checks. One goes to our bank (via Zelle usually), and one to to the IRA custodian. We split expenses 50/50 also. Two payments is probably a pain for the tenants, but it is no big deal for us.

My question is...we want to turn this property into a vacation rental. Has anyone done this with a similar situation? I don't know how the payments will post from airbnb to the trust...can they make two different payments? Also...expenses (like cleaning and such) has to be split 50/50 also. Help, please!