We are in the process of getting the loan and down payment squared away.

Happy to send over some referrals - some are better for big rehabs vs small cosmetic vs subcontractor only projects.

You'll need to roll it over to a custodian (a company that holds and administers the IRA).

I dont care if the tenant is paying themselves, the government, the tenants parents, etc.

That would be the best move for you to find good contractors and reliable ones for your projects.

I saved up the cash over a 2yr period.

The cleaning costs alone were over $9k.

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

Hi Vivien, welcome to the community!

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.