Hi @Brendan Bracken, Most investors that use a Self-Directed IRA or SDIRA already have an IRA and they are merely transferring the SDIRA to an IRA Custodian that allows (and hopefully understands) real estate investments. 

You are merely purchasing the home, subject to the existing loan balance, plus any additional agreements made.

What I am not sure of is whether this could be a good bet to start with, or it's merely a terrible idea for an experienced investor!

Appreciate it, let me re-run the numbers again!

The interest isn't saved, it is merely avoided by borrowing less money on the first 19 amortized payments.

Andrew, I say this to you respectfully as an investor and husband myself or a wife who has 0 interest in real estate investing – it's not her job to educate herself and get on board at the same level you are.We men often get this wrong because we think that if our partner doesn't feel the same way we do, then there is something wrong with them that must be fixed before we can move forward.2 key points for you that have helped me:1) Your wife is merely communicating her preferences.

@Y Clyne, not to shed hate, but Robert K. merely teaches the theory of passive income and real estate investing, he does not get into the nuts and bolts of practical steps needed to be a successful investor.

We are currently getting building insurance  quotes, but we are currently on a business policy with Nationwidwe insurance.Mationwide lists us as the policy holders, not the LLC.

This of course implies ownership for a period of time, not merely tying up a property and finding a buyer to step in to complete the transaction.

We have the deed so we do not need a mortgage  what would be my protection or benefit from allowing a hard money lender to take “first position” on a home I paid cash for and have sunk my whole saving into for a mere $25,000?