I'm not an attorney, but I know of no laws that would prohibit you from either buying a property or selling a property in NJ, so my guess is that there is nothing illegal about it.Now, if you're trying to using the proceeds from the second closing to fund the first closing, that changes the equation and you may find that closing agents won't do these types of transactions...though I don't know anything about the legality.

You need to educate yourself on what "prohibited transactions" are when using your retirement account for real estate (or other non-traditional investments).

this is more an out of curiousity issue at this point, as i intend to move forward, just interest in if it would be cost prohibitive to add for an additional $150 or so in rent/ added value if sold.Also, i understand that the local muni codes etc are a big factor here, and i plan on calling them up if we get the house under contract, but in terms of labor and construction if there arent any structural conflicts.thanks in advance.

I had completely ruled out LLC's because in California they're more or less cost prohibitive for small investors.

The parent could say they will sleep in the living room and very well might.But, if they had five kids or 3 boys and one girl, you couldn't legally rent to them if the local ordinances prohibited it.As far as discriminating based on occupation, yes, I dare say everyone saying they wouldn't would refuse to rent to people based on occupation would do so with some occupations.

Additionally, you could be prohibited from obtaining a HUD-insured loan for an indefinite period."

We went through this with since our SDIRA is between 3 'prohibited parties', but we ARE allowed to do this but we can NEVER change percentage of ownership etc....What I am wondering for these possible up coming deals is this; Can we mix funds by say using an LLC that is owned by one or more (currently 3) SDIRAs for the down payment of say 25%, lets say 100K.

This is the reason the Attorney Generals from different states want to prohibit or at least restrict STs.

It is a cost of doing business that is paid by the consumer who ultimately buys a product or service from them.A natural person is the only entity in this country that is prohibited from passing through all taxes to someone else.

If you hold rental real estate there may also be specific liability coverage you should consider.In addition to that, you need to seriously consider getting a personal umbrella liability policy.The thing about insurance is many think it is expensive until they need it and unfortunately, most state laws prohibit back dated coverage now.