All Forum Posts by: Caleb Landry

I've searched the forums and haven't quite seen this situation discussed so I'll go ahead and ask. I found a nice little multi family property for sale and have walked through it. It is 2 2/1 houses and a studio, all separate structures. Currently 1 tenant in one of the 2/1 properties. The others are vacant. This tenant is on section 8. I've been reading up on the pros and cons of section 8, seems to be lots of info on that here. My question is. Is the process difficult for the new landlord, regarding moving the section 8 benefits during a landlord change? Any pitfalls in this area? Any definite do's or don'ts. Thank you!

Brie Schmidt Thank you. That doesn't sound too bad.

Looking at a possible multi unit property to house hack.  Is it difficult, or any common issues, moving your current primary residence to a rental?  I guess I'm thinking in relation to taxes or accounting but interested in any input.

Thank you!

Regarding the Washer/Dryer. Unless it is something every property has where you are I wouldn't spend any money on it. Make sure the hookups work and advertise it as having those. If you are saying there is already a set there that works, personally I'd sell it on craigslist.

Thank you both for the feedback. That was what I was guessing but wasn't sure.

Trying to come up with a strategy for a first investment. The whole Self Directed IRA or Checkbook IRA sounds great in parts. My Question is: If you use a Self Directed or Checkbook IRA for the down payment on an investment. Is the whole investment considered to be in the IRA account? For instance if you have rental income, can you pay yourself? Or would that be a distribution from the IRA, which would bring about early withdrawal penalties etc? Thanks in Advance!