One caveat to this strategy is that you can’t live in a property that your IRA owns, nor can you rent it out to anyone else who may be considered a disqualified person like your spouse or child.Feel free to connect with me and send me a direct message if you want to learn more!

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Also, long term, I expect Sac will enact tougher restrictions on STR, given the intense housing crunch we're experience, so I personally don't expect that to a be a good long term strategy.

Any insights or personal experiences would be greatly appreciated!

Build connections with local professionals, talk to them in person, and value there time over yours.

I love talking personal finance and real estate investing so I would be happy to help.

Here’s a breakdown of the main ways investors fund their first deal while minimizing their own cash outlay:1.Private Money & Hard Money Loans– These lenders focus more on the deal than on your personal finances.

I think it's just for text, not to talk with a live person.

(Keep in mind there are Fannie Mae maximums on the number of personal loans you can have - which is 10 per person.

While this job could be performed remotely, working with my peers in person for at least a year is important to me.