If you plan to manage the property yourself, you've likely got a prohibited transaction that can ruin your IRA's preferential tax treatment. 

Even though we were able to raise the rents from 525-550 to 650 per apartment, a more substantial rent raise would have required a cost prohibitive complete gut and remodel (estimated cost 400-500K?) 

What are possible "out of the norm" requirements that could prohibit development and how does someone research every possible scenario (rain run off, endangered species, toxic waste, special requirements that make it not buildable, land lock, wetlands, etc.) quickly and inexpensively?

Rob K, i usually appreciate your view point, but in this case, i think it's a little off base..i offered them 12k to split between the 2 of them..hardly a windfall...actually, they seem like 2 working families that struggle to afford health insurance for their families...i want to help them, while getting a good deal of course--not prohibit them from qualifying for a need based program that they truly needthat all being said, and now that yallknow what my offer was, do you think 6k each is enough to screw them up?

You can prohibit marijuana just like you can prohibit alcohol.

They might not like it if they find out but I don't know of any insurance prohibition to working on your home while you live in it.

Research the property online through Tulsa County's site using the legal description, there you can find any liens or adverse attachments that may prohibit clear title.

I only read an article on CNN, so I might not be properly informed but this is what the article said: "1-- Create a new state misdemeanor crime of willful failure to complete or carry an alien registration document. 2-- Allow officers to arrest immigrants unable to show documents proving they're legally in the country. 3-- Ban so-called soft immigration policies at local police agencies and allow people to sue if they feel a government agency has adopted a policy that hinders the enforcement of illegal immigration laws. 4-- Prohibit people from blocking traffic when they seek or offer day-labor services on street corners."

Usually REO properties prohibit assignments.

It's a good deal, can you call me or email me, I'll give you the run down.Thanks[POST EDITED BY ADMIN - USING DECEPTIVE TITLES AND POSTS TO SOLICIT BUSINESS IS PROHIBITED HERE!]