I know just enough to be dangerous on LO so bare with me.

OK well if it has an HOA then that's a distinction that doesn't really matter for these purposes.

These are the kinds of discussions that I find very dangerous on this board.

In addition to the obvious contribution limitations, the dangers of self-dealing, and the liability risks noted above, a self-directed retirement plan also eliminates the ability to take advantage of significant real estate benefits as depreciation and many business deductions.

Ebere,I must distinctly disagree with you as IRS rules and regulations state that all expenses in preparing the property for rental activity(defined as listing for rent or actually renting which ever comes first) are added to basis.He inherited the tenants when he filed for the deed of a home in which as he stated the intent was to flip.

I would view the DC area as potentially very dangerous to invest.

Any suggestions appreciated.There are two distinct types of financing and both require your and your money partner's ROI requirements and risk thresholds.One: An equity partnership is where operating partner and money partner have an ownership stake (title) in the property.

I feel that this one may be trying to avoid declaring income based upon their distinct rejection of receiving a 1099.

Yes I would be conscious of potential dangers of committing to purchase but I'm not looking to do rent to own just tie this up for later if it doesn't work out I'll walk away but I think I can get a good price on this with a lease purchase and not forgo using FHA or VA in the future.

Buying property without checking title is far more dangerous than buying without seeing the physical property.