Hi JoseOverall, your plan is viable, especially with significant equity and an unconventional financing option (WLI cash value).

They found it out, andI had to go to the planning board and zoning board, hire an engineer and architect to make the fourth unit legal.In my opinion, the realtor should have verified the zoning, and if you used bank financing, it's pretty rare for the bank to miss it as well.You are probably going to have to hire an architect to draw plans and to get it approved as a triplex.I wish you luck.

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

Contrary to popular belief on these forums, a GOOD PM will save you money and headaches, not the other way around. 

Get rid of the property manager to save some money." 

If you're looking to save some time shifting through properties, our company, Winnow, automatically scans and analyzes every newly listed property and then sends you the ones with potential.

Why not save more money and look at higher value properties?

It would take 4 years to save another $100k before I could make another purchase based solely on the cashflow.

Saving?

Definitely saved a lot of money.