As such, your IRA can transact with a sibling.There are concerns, however.There can be no direct or indirect link to a disqualified party to your IRA, which includes lineal family (parents, grandparents, children & grandchildren). 

Let’s face it windows and painting outside may reduce turnover and help you fill a unit sooner even if the revenue or expense contribution is indirect and difficult to measure.

If you don't have the time or inclination to vet teams and manage rehab work from afar (not for the faint of heart or uninitiated) then you might choose a more passive, diversified investment like a REIT (an ETF comprised of real estate investments) or DST (a trust you invest in that owns REI, another indirect way to invest). 

I get this sense both from direct means as she has said it, and indirect means as she does not seem to be putting forth her full effort all the time lately.We have not officially divided this deal yet through a contract, but we have talked about it with a lawyer.What do you all think?

@Prashant ShethYou may only execute one 60-day/indirect rollover in a 12 month period.Since you did not actually return the prior funds and those are now considered a distribution, you have not used that one-time allowance.  

If you don’t know, I usually recommend new people buy a two family and lightly dip their feet into landlording, since it’s a skill that can be useful for the rest of your life and it also indirectly helps with wholesaling since many of your potential buyers will be landlords and it’s really helps to understand the mindset.I’d also suggest finding local real estate groups in RI and Mass and make friends with other new investors, maybe a few slightly more experienced ones, and help each other out, learn from them, etc.

Would each's share of the profit most likely be in direct proportion to the dollar amount each partner invested? 

@Russ SandiferAny transaction, direct or indirect, between a plan and a disqualified party is prohibited. 

@Mohamed Nagoor , It's up to you how you want to keep a record for the flips. ( excel vs Quick books vs other software) You are going to have two kinds of expenses: 1) operational expenses - can be deducted this year as a business expense under Schedule C, if you have SMLLC2) the expenses that are directly or indirectly related to the flip property.

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