What to do with IRA-owned property?

[Ben A]

Hi folks,

I have property owned by my IRA and I'm trying to solicit some some insight to figure out what might be better use of fund.

My first stab at RE investing was due to my excitement of knowing that I could self-direct my IRA. So I converted to Roth (ouch!) and early last year purchased a house with the intention to flip it. Market was slow, but perhaps mostly about the location and/or rehab wasn't really done in flip 'standard'. So it sat on the market for several months and I finally decided to just rent it out. Now it has tenants. They seem to be the model tenants that landlords wish to have. On that end, it's not bad.

But I think I'd still want to get cash from it and will attempt to flip again; now it would be somewhere nearby. I thought about using non-recourse loan but the lenders I've approached would not loan <100K. And I'm a little hesitant as I would now have to deal with UBIT. Also I read at some posts, holding a rental in it might not be the best way to go.

Any suggestions/comments are appreciated. Thanks.