I am happy that I did not let my fear prevent me from the purchase. 

Why do SEC regulations that "protect" the middle class also prevent them and allow only "accredited investors" (aka rich people) the ability to invest in private investment opportunities?

I did get blasted a while back on another thread because I recommended to someone to build a buyer's list first and several others commented that it is a sign of a novice to recommend building a buyer's list first and how it's totally unnecessary if you find a great deal because you will find a buyer and yada yada yada.

Good afternoon BP friends,I'm looking at setting up an SDIRA for the specific purpose of buying a single property - an undeveloped lot - and I'm trying to determine if it makes any sense to use an LLC and/or have "checkbook" control for this particular SDIRA.My initial thought is that since this SDIRA would be to buy a single piece of undeveloped land and then hold that property as an investment for the next several years, that the additional complexity and expense of an LLC and checkbook control would be unnecessary.

You will want to dig much deeper than internet forums or even the sales reps at most self-directed firms to ensure you have a strategy that will produce results without unnecessary regulatory risk or too much administrative overhead.  

-Jason There are lots of motivated sellers with all different types.Back taxes will contain lots of motivated sellers, because they now have a lien against the property that will prevent them from selling conventionally. 

It does not require lawyers and is a common remedy for chasing tenant debt.If they are responsible individuals a small claims charge on there records will prevent them from getting loans, buying anything on credit or time payments etc.

If they were that easy to predict #1 they wouldn't happen (interventions would prevent them) and #2 there'd be a LOT more rich people as billions would be available for those that could market time.

Perform a quick cost analysis on the eviction process to see just how much it will cost you, then offer cash to prevent the time/revenue lost.

@Dmitriy Pukhov,You don't necessarily have to pay off the first, but you do become responsible for the payments to prevent foreclosure.