So if they only held quality properties they would have done very well no matter the cycle but the marginal to losers were wrecking the returns on the overall portfolio.     

Her Credit is being held hostage :) 

Typically when one tenant in a joint tenancy situation moves out, the deposit stays with the property and continues to be held by the landlord in trust in case there are any damages or money owed when the property is ultimately returned. 

There may be titling issues unless it is held by an LLC inside of the IRA. 

A variation being the land is held in one llc and the property in another and one pays the other ground rent. 

It *seems* like there is more flexibility of how that new property is held with the 721 Exchange. 

As for taxes, I would have paid around $300 for taxes (rounding up) for the time I held the property.

@Mike Hartzog  correct... in our world 2nds simply did not happen all first trust deed or mortgage lending and all collateral assignments of said.now my facility at Umpqua 4 million.. they would not actually record the assignment they just held it and we gave them an alonge'  they would only record if they were going after the asset.Riverview and Columiba community were I had the same facilities only larger they recorded everything so the transaction was a little more cumbersomeand of course we had to close the loan with our own cash then back fill.. much like a conventional lender who does table fundings then sells in the secondary market.. but once the machine was up and running it went well but it took staff to run.. that's for sure.

Fortunately, I have held onto the 2 pieces of raw land that will be payed off in a few months (via owner financing) in northern Arizona that I plan to develop on one day.     

Hey Nate, This would be my advise, it doesn't matter what the price of the house is because your buyers list will be held with buy and hold people and flippers.