The analysis also reports that new multifamily development will “remain near the average recorded over the past five years”.Integra Realty Resources’ 2017 Commercial Real Estate Trends Report ranks Pittsburgh #2 on its Top Markets by Multifamily Transaction Volume Based on YoY Change.Pittsburgh’s rental vacancy rate has declined by 25% over the last five years.Pittsburgh is booming with developments (see reference #6), “there is no better place to be a developer right now than in Pittsburgh.

Fingers crossed!! 

As you probably read through the comments on this thread, there are many moving pieces, costs, and folks involved in this transaction. 

The IRS views it as taxable income because it’s not being used for the purpose of deferring taxes under the 1031 rules.For example, if you sell a property and only use part of the proceeds for the next investment, the leftover amount (after paying transaction costs, etc.) is taxed.

Closing CostsMake sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction.

That is if purchasing EXISTING performing investment real estate AND have very good clarity of every facet of the transaction ESPECIALLY reasoning for seller selling, AND you have decent market intelligence. 

You will have a leg up on the language, transactions, inspections etc.  

I think what you’re referring to is a checkbook IRA so you can bypass the custodian when performing transactions/investing and all assets/accounts will be held in the name of a special purpose LLC or Trust which is the instrument that gives you checkbook control.  

It's a 4 family, I just don't want that kind of transactional relationship with any tenants.

If anyone has any experience on either end of a transaction like this i would be interested in hearing from you.