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.  

.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

Unfortunately, while there are other methods to acquire investment properties, the reality is you need cash and reserves to plan and set up your investment portfolio accordingly. 

For my rehabs, I pull owner builder permits where needed even for work done by licensed contractors.My jurisdiction does not require permits for cabinets, counters, or flooring replacement.  

Hey @Megan OConnor, I can't comment on the area specifically but it is doable.You need to search AirBNB and VRBO to get a look at the competition (don't forget to look at VRBO)You have to work into your plans the downturn during the off season.

Quote from @Dave Chengoue: Quote from @Wale Lawal: @Dave ChengoueIt's great to see your focus on multifamily properties and your clear plan for self-management.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

.: I just hired an architect to design and plans submit for ADU in my 8 multi unit to use the tuck under parking.Some people say do not try to be the general contractor as it will take way more time, costly mistakes and will be nearly impossible to manage with current work. best to hire a company that will do it all and cost about $250 per square foot.

With thoughtful planning, you’ll be well on your way to building wealth and achieving your goals.Good luck! 

My question is: If the HOA changes the bylaws to ban smoking (which they plan to vote on), and the lease held by the smoking tenant only specifies no smoking "within the unit," is there any legal recourse for the smoking tenant?