If the said person makes less than 80% of the median income or is financing a home in a CRA area, there are federal programs they may qualify for even with sub-prime credit and little money down.

Shouldn't be more than a few hundred bucks and will make sure it conforms to federal and local laws.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business. 

The best recommendation I can give you, is to either call every bank around (since each bank's money is governed differently by their board of directors each bank's portfolio loan will be slightly different) maybe you'll find a loan with better terms at a different bank  OR  go the conventional route and quit claim that bad boy.  

The zoning is now a very workable issue if you do it right thank to some (sigh) more government regulations on Fair Housing.

Apparently, since the crash, the government made some rules about how much lenders could charge in relation to the total loan amount.

If selling through financing, it depends on the lender and the federal program that's backing the loan.

After forming an LLC you will need to apply for a federal EIN (employee identification number) in order to open a bank account for the business.Nebraska Secretary of States: http://www.sos.ne.gov/dyindex.htmlNebraska Entity Search: https://www.nebraska.gov/sos/corp/corpsearch.cgi?

For example, converting a (very large) garage into a separate (but attached) living space.I would appreciate any insight others have, but in the mean time I will try calling some government offices and post here if I find my answer.

there is no state income tax in TExas... same with Alaska as you mention.. so loss's would be noted on your federal return.I am not trying to talk you out of it by any means... just giving you some tips to think about when you go shopping..