This is advice for the readers: DO NOT buy real estate jointly with your IRA.

Quote from @Natalie Johnstone: Hi All - I'm brand new and have a goal to buy a property by EOY. 

For example, the seller might put in an expensive penalty if you refi early.Regarding the interest rate risk, I would not buy it today if the deal did not work at today's interest rate. 

I'm buying the property with cash, in a trendy neighborhood.

It’s really not hard to find someoneFor example people who buy a loan in their name and move it to LLC - some say for asset protection and some say to hide their name - well the recorded mortgage is still in their name and it’s a quit claim deed to a LLC so it doesn’t take a rocket scientist to figure who owns the LLC

The problem with these small deals is that there no money in it for the Lender or the investors who buy the payment streams.  

I buy the property with a DSCR loan at 7% for 30years for an annual payment of $300K. 20% down is $1M from investors.Increase rent (value add) over then next year to $1150/m creating a new NOI of $524K.

@Melissa Wongkamalasai it has been challenging to buy small multi units in Chicago for a few years now, and only the very best deals will pencil.

Are you planning to scale and buy more in St Louis?

Im looking at properties to buy, and saw a tenant in a 4-unit property I like paid $1,000 in late fees.