Maybe someone out there can help with a reference or experience for this scenario. Investment rental property being purchased with 2/3rds of down payment coming from self-directed IRA funds being held in trusts. Portfolio loan for remainder with some repairs built in. Will need to have banking set-up prior to taking possession. This property will have property manager to pay all expenses and deposit rents. Ownership in property will be equal. So all funds stay separate and not commingled with other properties, is it recommended to establish Special Purpose LLC so banking can be established with this entity? Does the loan need to be in the name of this Special Purpose LLC as well? Does someone have a recommendation for an attorney (prefer Central Texas area) that is familiar with the structure of this type of transaction and can walk thru all necessary steps prior to finalizing financing and preparing for closing? This is time sensitive, appreciate any suggestions.
