I'm looking to exchange a multi-use property I own in the Bay Area for a multifamily property (expected sales price $3 million) that I could potentially convert to MTR.

Now you can always rent it out and just keep it on the down low but just be aware of the risk.

Lenders often require 30-40% down.Cash flow considerations – Since all expenses must be paid from your IRA, maintain liquidity to cover unexpected costs like repairs and vacancies.Rental properties vs. commercial deals – Residential rentals and commercial properties can both be great options, but keep in mind management complexity and income stability.Generally speaking, stay compliant – Avoid prohibited transactions, such as personally guaranteeing a loan, living in or personally managing a property, or transacting with disqualified persons (yourself, spouse, ascendants, or descendants).Diversify your portfolio – While syndications and real estate are great, consider mixing in other alternative assets like private lending, tax liens, or even notes for additional risk management.Work with the right custodian – Make sure your SDIRA custodian is well-versed in alternative investments and has experience handling syndications and non-recourse financing.If you’re looking for specific lenders who offer non-recourse loans, I’d be happy to point you in the right direction.

Had we scheduled the closing in the morning, there would not have been an issue.The only potential upside is that a disaster area declaration triggers changes in mortgage rules that could beneficial to the buyer. 

@Chris Seveney  - Depends on risk tolerance.

Understand the strengths in your market, what does well / has lower risk since you're just starting out? 

Without sufficient reserves, you’re not just stressed—you’re at serious risk of losing properties or being forced to sell.

I’d be happy to share insights or explore potential opportunities together.

While Maine is on my radar, I'm also considering landlord-friendly states like Texas and Florida for potential investments.

Personalities and business practices vary widely.Lesson 3: Be willing to pivot to avoid potential future concerns, and know that a small win, or breaking even is better than a total loss.Lesson 4: Commercial loan process was great to learn and now I have built a relationship with a commercial lender.