@Juan MongeTo add to your own concerns and to what @Justin Windham and @Dmitriy Fomichenko said - Holding lots for resale is not the best SDIRA investment.

It still might be a good idea to ask this question there just in case.  

@Justin Marshall  I fell for the  hey let me put you on my buyers list.. 

Always better to cover your butt just in case.https://www.irs.gov/pub/irs-pdf/fw9.pdf

@Justin Forehand: Great!...

Let's guess that your brother doesn't give it to you, just in case and let's leave a little cushion okay? 

Hello, i am trying to buy a house from an elderly person but having alot of trouble the deed is not in hes name but hes fathers name and he has not been alive for 150 years i went to speak with an attorney and he told me it would cost around 2,500 just in fees for paper work  and we would have to visit hes office 3 times to get everything done as i do not have that much time to scedule appointments in advance to see him and i do not even know the elderlys schedule of availability  is this the only way or is there any other options around this? 

Regarding the financing, here's what we grabbed on our last deal:Term: 25 Year Amortization, 5 year balloon, 1 year IOAlways shoot for non-recourse; unless the property is not stable (<75% vacancy) non-recourse should be an option for you.Most banks will want to see you have 6+ months of operating capital just in case, especially in a recourse situation. 

Hi Justin, Welcome!

Thanks a lot Justin Merchant for your input as I greatly appreciate it.