Both of you are considered to be a disqualified persons to his IRA, more on this here:https://www.biggerpockets.com/blogs/2810/47960-dis...He does not need to take out a distributions and get taxed on that. 

I am working with a developer who sponsors the EB-5 for overseas  Chinese, Korean, and Indian investors who will invest $500k+ in real estate in the U.S. to qualify for a U.S. 

The spike in prices is largely blamed on foreign (Chinese, Korean) cash buyers who pick up multiple homes/condos in the city and then leave them vacant.Why don't I buy it?

I sort of imagine it to a dish sponge standing in front of a firehose!

Give Relevance to posts by people actually doing deals (the whole guru mentality, that anyone can dish out advice, but are they doing it themselves?)

@Eileigh Bevers - echoing the welcome that others have dished out, welcome to the community!

You have to take in to consideration that you are only repairing one side so what if you spend this $10k and have to dish out more on the next side.there are many things to factor here.

It seems like something one of my Korean colleagues would write.Anyway back on your question.It might be a scam.Go through escrow.It may have worked in PA but you don't know this person.If they don't want to use Escrow they need a reason or just walk.You should probably just walk.

More than one bathroom makes a live in flip easier - you remodel one bath while still being able to use the other(s).A property with a utility sink makes it much easier to wash dishes than doing them in the bathtub, although your kitchen won't be torn apart forever.A garage to store tools is nice to have.Avoid the "weird" houses.

We have a few contractors and US military personnel involved, as well as other expats and Koreans.