I financed the acquisition of the land with personal and private money.

The plan was to have the properties completed in 6 months make some money and be on our way to real estate riches.Turns out a lot of the framing was rotten and we had to completely reframe the back of one of the houses.

Yes, You can buy and asset, fix it up and rent it out to make money without you physically having to work for the money. 

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).

I needed to find a passive real estate income stream that would work within the IRS’ self-directed IRA (SDIRA) rules.

If you didn't actually get any money, how do you know for sure they are a real legit lender? 

It’s awesome to see your excitement for real estate.

Hey @Scott Trench unfortunately real estate losses (active or passive) will not offset portfolio income from stock sale gains. 

You can use seller financing, or you can use hard or private money.

The LP got it from a friend who is in some kind of real estate mentoring program.