Flipping in a self-directed IRA

[Jeff Piscioniere]

Hello everyone! Has anyone done or thought of attempting house flipping through the investment of a self-directed IRA? Specifically, I have been researching the concept of a self-directed IRA LLC with checkbook control. This for all intents and purposes is a bank account in the name of your IRA LLC where you literally have a checkbook/debit card to invest in alternative investments one of which is real estate. Of course there is list of extensive IRS rules you must abide by but they are generally straight forward. I'm getting close to the point where I will be looking for "facilitators" (accountant; tax lawyers) that will help me roll over funds and set it up but I've yet to determine the best aspect of real estate investing to focus on. Any input will be greatly appreciated with regards to flipping or if anyone has knowledge of the set up process with creating a self-directed IRA LLC with checkbook control including what that process may cost. Thank you in advance! Jeff