This will keep you pretty busy if you're active and engaging folks on BP, but not only will it build your network crazy fast it'll also expose you to a ton of different areas of REI and help you to decide what path you want to take.

That's who you need to engage to confirm the underwriting requirements for your complex.

The bank does not have to engage it if they don’t wish to and very well may not but then again they might.

This is very easy case for the IRS to declare such joint investment to be a "prohibited transaction".If IRS determines that your IRA engaged in a prohibited transaction the penalties can be up to 100% of the IRA value.

So buy their books, join their programs, engage in their community. 5.

As the buyer you decide what you want to pay and hope you have a agent that 1- will offer it and 2- will do a good job negotiating it.Bottom line is, assuming your agent is fully engaged and on your team, you make all the decisions.

I really enjoyed reading his book: it was engaging and a smooth read. 

As you mentioned, I make sure I have enough umbrella insurance.I also engaged in other businesses, so I also file returns for LLC's, S Corp, and even a C Corp for a while, so another LLC for the rentals would just be another return.

Don't hesitate to reach out to people and engage in conversation, and post questions- its how we learn.

We have engaged an amazing bookkeeping company that has numerous real estate clients.