He is only willing to refi out and will not consider selling.Couple things to note: He went through a divorce where his credit was ruined and he had to refi his properties in order to pay for the messy divorce and custody battle which is why his interest rates are so high.Basically, he is wanting to find a lender/investor who is willing to buy out his debt and become his new lender at a lower interest rate of about 6-8%.  

And what custodial companies have you used?

Derek my guess is cozy makes money off that 5 day waiting period...custody of funds. 

The custody of funds is only part of the equation. 

I rented him a 1 bedroom apartment only to find that he has joint-custody of 3 other children on the weekends. 5 people in a one bedroom apartment are (as I understand the fire code) over capacity but it is just on the weekends.

He is awarded full custody of his 2 kids from his first marriage, so that house is now too small.

I'm using Specialized IRA Services for the Custodial services and used Mat Sorensen for the LLC work.

@Ryann KlutheAs a real estate agent, you are likely eligible for a Solo 401k which works very similarly to an IRA LLC, but has many additional benefits.Compared to an IRA, Solo 401k contributions limits are roughly 10 times higher and there is no custodial requirement for the 401k.

IRA Services Trust Company is one company that will custody the IRA LLC.

The rules are the same regardless if you are using custodial SD IRA or IRA owned LLC (aka Checkbook IRA).