As I said, the seller is in a distressed situation and really pressed for the funds to take care of elderly parents, who are the original owners of the property.I was told by a reputable bank in my area that handles land lots loans, that I don’t have enough liquidity and I would need at least $100k in my bank account to move forward.

@Mas YoshidaSee following list:IRA funds CANNOT be invested via a promissory note to the following: Who’s OutYouYour SpouseYour natural parents and/or your adoptive parentsYour natural grandparentsYour natural children and/or your adopted childrenThe spouses of your natural childrenAny fiduciary of your IRAAny people providing services to your IRA–such as your stockbroker–as well as his employees and both his and his employees’ blood relativesIRA funds CAN be invested via a promissory note to the following:Who’s InYour brothers and sistersYour Spouse’s brothers and sistersYour spouse’s parentsYour spouse’s grandparentsYour stepchildrenYour spouse’s stepchildrenYour grandparent’s spouse, if not your natural grandparentYour aunts, uncles, and cousins

Parents own a floor covering company and was raised in construction.

It's not that I object to you withholding the truth from your Realtor as part of your game - but, don't expect them to like it! 

Imagine if your parents owned a property that was worth $500k and someone convinced them to sell it for $300k, how would that make you feel?  

You also need to be concerned about withholdings such as FIRPTA on disposition and other withholdings on rental income.  

My brother and I are investors in Illinois looking to purchase a multi family with one of the occupants being our parents.

My parents want to remove themselves from the title and give me full and clear tiitle.

My brother and I are investors in Illinois looking to purchase a multi family with one of the occupants being our parents.

Hi, I'm new to these forums and was wondering about my first tenant eviction.Background: I don't own the property, but my aging parents (owners) want help managing it.