While you can certainly administer investments with activities such as executing contracts, paying expenses and receiving income into the plan, you put your IRA at great risk if you are out doing all the necessary marketing and deal-chasing activities that wholesaling entails.  2) Wholesaling is a dealer activity and therefore subject to taxation on Unrelated Business Taxable Income (UBTI) if conducted on a regular or repeated basis. 

I am going to ask if she is open to financing me with a 5-10% down paymentsShe is going to ask me what that entails...I want to talk intelligently  about how the process of selling financing works and the people who would be involved.  

Have them come see what work entails and give you a price.

Have no clue what it entails to sell or price the house, have super crocodile bath breath, have no idea what upgrades are worth, have no clue what items of their house brings value and what items do not, and what items actually reduce value (a crappy pool, a desperately needed to be torn down shed) etc. etc.Although motivated sellers, they are in many aspects worse than a blind targeted lead where you have to argue and debate trying to convince them their house is really not all that!

This strategy would entail an appraisal of each building (FMV split 3 ways evenly) rather than a valuation of the partnership as a whole in order to avoid any minority discount hit for Partner A. 

Most of our homes were paid off, so we made pure profit on those that didn't entail an expense for that month.

Remember these older homes have lead based paint so you'll need to learn about what that entails.

My reasoning for considering a condo is the lower maintenance it may entail if I move out of the city. 

And only on their approval, after submitting the proper permits and applications and showing them what the work will specifically entail, and once approved may I then commence with the work.  

I would love to see this happen and could use it whilst we build our REI business.NUTSHELL: PRIME.. and I MEAN PRIME property for sale in my neighborhood.. waterfront and has approvals for 13 homes.. now my 'idea' is a bit out of box.. and would entail some dealings with town.