Yes and no.

No?

Investing in a fund like PPR has no UBIT implications unless the IRA is an LP in a syndication but I don’t think that’s what PPR does. 

This tool (no affiliation with BiggerPockets) can help your son find properties with assumable loans. 

out of 100 HML maybe 5 do new builds.. and zero will do loans for someone with no experience so that is going to be the key if you have experience or not.. if not they then like to see an experienced GC on your team. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It's no wonder they ditched the master lease structure - easy to see now how they were losing money on it. 

No decision yet, but it's looking good for the investor, as they were able to find about 20 other houses in the area that have been operated as STRs for years with no complaints.

Across the street is a big embankment, so no houses or land, but there are several three story apartment buildings on that next street. 

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).