If so, not much would need to be done other than to say "no", as the kids would currently own the property outright by operation of law.Now, that said, step-dad may have his own claims to be considered in evaluating all of this if he in fact contributed to mortgage payments, maintenance, etc.

Here are some additional benefits it has over SD IRA:Great tax-shelter: contribution limits nearly 10 times higher than an IRA (up to $60K/yr)Exempt from UBIT on leveraged real estateGreater protection from creditors Ability to invest tax-free using Roth (post-tax) component Lower cost since there are no custodian, asset-based or transaction feesand more!!

Having a full-time job, living at home, saving, and representing myself to get the commission were contributing factors on why I personally was able to finance the deal. 

Thank you for your contribution.

House I am renting:Purchase Price $145,0003 bed/ 2 bath2 car garage1,700+/- sqftAsking rent= $1,395/month Thank you Bigger Pockets Community for all the of the great knowledge and advise everyone is consistently contributing to on a daily basis!!!!

I have heard this notion of flipping a house with no money down.

Maybe employees that get stock options as part of their compensation, but I'd caution against that.As you gain success in life, you will find a long line of people ready to take your money, your success, or your fame without giving back or contributing. 

My contributions would are: I have my real estate license, I live in the area we would like to invest in so I would be managing the renovation, tenant placement, and property management.  

@Bo Badalich Two things contribute to make a prospective purchase a deal.  

@Brian Singer I think I get it--you want to JV with a syndicate sponsor where they'd raise the money and you would contribute your skills at either finding deals or rehabbing units?