Roth IRA self directed for RE investing

[Darryl S.]

Is anyone here actually using a self directed Roth IRA account for real estate flipping? I am sick of paying these outrageous short term capital gains taxes it really feels like 1 step forward and 1 step back. I looked at the 1031 exchange system but it is just too restrictive to suit my slow moving investing style. I have a current deal that I can pickup for under 50k which will produce around 30k profit shortly. The way I see this working is that I use the ROTH IRA cash to buy at 50k property, flip it and put 75k back in to the Roth IRA account then move on to the next one generating untaxed gains inside the Roth IRA which will be 100% tax free upon withdrawal. I will simply keep building the account balance until I get ready to retire or turn 70 1/2 and have to start withdrawing. Should have several million dollars in there by then................ WHO IS DOING THIS? I need the dirty details please.