My/one interpretation of the IRC is that by performing your own management/work on the property you are either 1. making excess contributions or 2. receiving personal benefit from the IRA.

Am i interpreting this right?

@Kim F.Your interpretation is only partially correct, but all accountants, me included, are underwater these days due to Oct 15 IRS deadline.

.- Row 3 will hold sale proceeds- I will sell the property in year 5 So it will look like this:A1= 100 (cash outflow)B1= 10C1= 15D1= 15E1= 15E3 = 25 (proceeds from sale of asset)Here is the formula I am using to calculate this=IRR((A1:E1,E3))This will return a value but I am not sure if it is the correct way to calculate this because I am not sure how Excel is interpreting these flows with regard to timing.

It's a fantastic book that help you in understanding how interactions with other people are interpreted. 

If I interpreted what you're saying correctly, my parents could ignore the lender appraisal and GoE, and just sell me the house for what they owe?

But the offense that it gives you may just be interpreted as a value judgment on your tenant's part.For instance, as a practicing Greek Orthodox Christian, I am most grievously offended by much of what my tenants do.And yet I've never brought up any of this with them.

Am I interpreting this correctly?

My interpretation would be that if you can't move in within 60 days because rehab took longer than expected, so be it, but that wouldn't waive the 12 months of occupancy thereafter promise that you will make at the closing table. 

Just because you do it does not make it OK to do and does not make it OK to share it as advice for others. 30% is generally considered to be safe, but it's based on interpreting examples in the Treasury Regulations and not on some formal rule.We all make mistakes.