I plan on using a 5 yr ARM from a local bank.

Found a 4-plex in residential area (population <3,000) about 45 minutes away.Purchase Price: $92,000 (MLS) Bank Appraisal: $99,000 (appraised "sale" value)Mortgage: 20% Down, 5/15 ARM (self-employed, first mortgage)Rent Roll: Full occupancy = $2,050/mo; currently = $1,630/mo (3 units with long-term tenants, studio unit vacant)Roof: No leaks but needs shingles in 1-3 yearsHVAC: One gas boiler, hydronic/radiant heat and hot water; no ACOther: 2500 square feet. 

Could also do 3-yr ARM mortgage at 6.1%Obviously, I can sell also choose to sell the property and collect $30k+ or refinance.

So, I'm still a small time landlord/investor with only 1 rental property right now, but looking to expand, armed with the info of BP, and my 15 years of knowledge/experience.

I am looking for advice on purchasing a house in which my aunt has gained ownership most likely through quit claim deed from my grandparents 10 years ago. My grandparents had owned it since sometime in the 1950's. I g...

@Paul KitThe issue it appears you are not grasping is that all activities of your IRA must be entirely at arm's length and may not intersect with your personal finances in any way.

I'd just add that you should  include in your operating agreement a very detailed explanation of how issues are resolved, voting power for all members and who is at the helm of the organization (i'd also spell out roles and responsibilities for each member in a very explicit manner)

But I do recall having to explicitly spell that out.

I am happy to say that on August 31st, 2015 I went into an 8 to 10 hour surgery and came out cancer free (the additional chemo sessions through December were as a precaution).Now, I was on a serious mission to get back on my feet financially and health-wise and was armed with a completely new way to look at life.  

most of the folks I know that work "the hood"  take precautions they go armed.. for one.. they enter homes like a first responder would.they don't turn their back to the street if anyone is there..