@Julia Vang Hart: There is no harm in having a checkbook control IRA LLC like that has been discussed here, and you have hit the nail in the head that you have to be careful with the prohibited transaction, but there are other caveats that have to be considered too, when working with the Checkbook Control IRA, LLC... one of them is to enable your IRA to get the beneficial tax treatment, the LLC at any given time has to be deemed as a "real estate operating company", wherein the definition states that: "atleast 50% of the assets, valued at cost, are invested in real estate which is managed or developed and with respect to which such entity has the right to substantially participate directly in the management or development activities and such entity in the ordinary course of its business is engaged in directly in real estate management or development activities"Based on what you have outlined in your initial posting of what you intend to do, it appears you would fall into this definition, but it has to be consistent throughout the life of the entity.

The other key part is always try to get property near the public transportation so tenants can commute easily to there work place. 

Anti-competitive practices are well known and the been noted by several sources including:The New Your Times - The 6 percent Solution (link)Pepperdine Law Review - The Real Estate Brokerage Industry and Antitrust Implications: (link)The Economist - The great realtor rip-off (link)Consumer Federation of America: How the Real Estate Cartel Harms Consumers (link)The American Anti-Trust Institute - Competition in the Residential Real Estate Brokerage Industry: (link)Anti-consumer practices are openly acknowledged right here on BP!

Free standing multi's are a great way to start out investing...I would ditch the condo if you can at least walk away with out harm and seek other RE investments...

However, if the taxes are less, and the upkeep is less, then it WILL have a market - ie. usually those who can't afford those other higher value "comps".But no harm in TRYING to get the same price.

They told me that because i was actually bidding against "real people" that they would just offer it to the next lowest bidder. no harm, no foul.

One principle I have always followed is that there is never harm in asking.

If on the other hand it's substantial, then it's definitely worth bringing up.The other side of the fence would of course say there's no harm in asking. :)

If they offer a free trial, probably no harm in checking it out, but definitely ensure the stability of the company before trusting them with your data.  

I want to rent the space for top dollar, and if I owned part of the business, I could be doing harm to myself in structuring deals.