Personally I learn better having the reading material, some people do better with a live course, you need to know what works best for you.In California, in order to become a Real Estate Broker you must  have a minimum of two years full-time licensed salesperson experience within the last five years or the equivalent is required. 

The profit we made on that house was equivalent to one year's worth of income at my old 9 - 5 desk job.  

For you to provide that free labor to the IRA is the equivalent of making un-documented contributions to the IRA, and would be viewed as a prohibited transaction.Nothing you can do now on this deal, but you should be entirely at arm's length on any future transactions with your IRA.

Christine,I have not reviewed the SBA 504 Authorization in detail recently but I am sure there is some sort of equivalent to a "material adverse change" in the either the SBA's document or your conventional lender's note.

Likely for every $1000 you could put in your 401(k), you would see the equivalent of $350-400 of after tax funds you could use to invest with if you opted not to participate in the 401(k).At some point, you will change jobs or retire.  

You'll need a more traditional route, such as a regular homeowner selling a regular house that's listed on the MLS or equivalent.

If this is a major rehab for which the MATERIAL costs for rehab are in the range of 25% of the purchase price, a strong argument can be made (by your partner) that labor is typically equivalent to materials.  

I understand that using a Land Contract in Kentucky (a judicial foreclosure state) is not advantageous at all for the seller due to a legal determination from the late '70's...apparently:  a Land Contract is essentially equivalent to a mortgage instrument thereby giving the buyer "equitable interest" in the property once any payments are made.  

That would mean a total of 10% paid (6% interest + 4% points) paid for the 6 month loan, which would be the equivalent of 20% annually.

You can buy an equivalent class of property as that $125K one in TX for $90-$100K in Indianapolis and Kansas City with much lower taxes and insurance.