If not on a state road, a muncipal permit is also usually required. 

They require all cash to buy so the people there have money.

I'd start by giving all residents the required notice (usually 24 hours) and go inspect the units as quickly as you can. 

Its great that the seller is will to carry a note in a seller 2nd as well, that will help reduce your require monthly payment with the right lenders.

It is required by the law and the Code of Ethics.2) There is no such thing as not going through your brokerage when you have a license.

My suggestions:* Requiring code compliance and safety equipment is absolutely valid and should be part of the regulations* Requiring owners live within 15 miles is not necessary since poor hosts whether they're local or distant will violate the 3-5 warning system and earn a suspension.

You are required to vacate the home before 5:00 PM on December 31, 2024.

These types of properties require experienced management to navigate the challenges effectively.

However, when seeking a non-recourse lender, I suggest starting by reaching out to lenders who specialize in working with self-directed IRAs, as they’re more likely to understand the requirements.

Some may require a waiting period of one to two years before leasing is permitted, while others may prohibit rentals entirely as outlined in their bylaws.Always know the property’s potential for annual rental income and ensure the numbers work.