• Establish company specifically for rental management.• Over the course of the year new company will be paid $5k for services from rental income.• Schedule C shows $5k (and payments are shown as expense on rental side.)• 15.9% of $5k paid for Self Employment (apx. $800.00)   (note this would be less than ordinary income paid otherwise, plus 50% of SE tax is a deduction.)• $4,200 contributed to solo traditional 401, then converted to Roth. 

I concur with everyone, best to check for medical emergency first in this case, after that's been established as NOT the case, definitely time to get yourself into the mix and remove that manager asap. 

@Shawn ChervinskisSee Section 408(b)(2) of ERISA for more information on this exemption.The office space or services are necessary for the establishment or operation of the plan;The contract or arrangement under which the office space or services are furnished is reasonable; andNo more than reasonbale compensation is paid for the office space or services.Regulations issued by the Department clarify the terms “necessary service” (29 CFR 2550.408b-2(b)),”reasonable contract or arrangement” (29 CFR 2550.408b-2(c)) and “reasonable compensation” (29 CFR 2550.408b-2(d) and 2550.408c-2) as used in section 408(b)(2).

Together, let us embark on a journey toward unparalleled success in Miami's thriving commercial real estate landscape.

Establishing the core 4 is what everyone says, and it is important to have boots on the ground near your properties to check in on things when needed. 

Congrats on your thriving business!

Many lenders typically establish their minimum loan sizes at around $100,000, encompassing both the initial loan amount for the purchase price and any needed rehab expenses.

First you would establish an IRA with a custodian that allows for alternative assets and complete a rollover form.

I know I could loan 80% but I would want to stay on the conservative end of things to get established.

Consider your management style: if you appreciate hands-on work, smaller markets may be a good fit, whereas passive investors may prefer established management in larger markets.