Tell them you may buy a duplex and want to convert.)When you evaluate the deal, evaluate it with only the 2 legal units contributing to cashflow as that is the only guaranted income.

To do so would be injecting value into the IRA and akin to undocumented contributions to the IRA.The IRA could not purchase your tractor from you and you may not be the one doing the mowing under any arrangement.For you to run cattle on the land would also potentially create issues. 

You guys will probably have to buy a house together personally and contribute the asset to the LLC if you really wanted an LLC(or get a good insurance).

Second VideoFor anyone who can and is willing to contribute I thank you and God Bless.

There is such a wealth of knowledge and opportunity here and I'm excited to tap into it as well as contribute as much as I can.I look forward to chatting more with everybody or possibly even working together!

Tax it at ordinary income tax rates, that is fair, as after all, the contribution was tax deferred, but to then take an additional 10% is unfair.

nowhere in the deed do they define the "aforesaid" or "set forth herein" conditions.....so it seems to be saying two different things.....I'm passing this along only for the sake of discussion I really appreciate all who have taken and are taking the time to follow and contribute to this discussion. 

As for making this a house hack, you could easily live in one side, get a roommate (600-700/month), rent out the garage (200-300/month), get about 2,072-2,272 month to contribute to your mortgage (which includes the other side's rent). 

Thank you for your contributions.

The simplest way to explain is: active is where you continuously contribute labor (Realtor, contractor, wholesaler, flipper); passive is where the money is made while you're doing something else (landlord)