I'd like to see the statute that prohibits this in Florida.

IF they do and they ask me to pay for the clean up in escess of the value of that ira that owns this property wouldnt that be considered an illigal contrubtion to my retirement account and there for be a prohibited transastion?

As I surmised: Does not work with that much negative equity.Too bad the gurus don't put a disclaimer in their pitch: "A mortgage assignment is prohibited in instances in which the current mortgage balances exceeds the fair market value of the property by 25%" or something to that effect.

If you fix and flip more than 3 houses per year in your IRA you may be seen as running a business.Running a business is not prohibited but it leads to a tax called UBIT.

That would be "prohibited transaction".This topic has been discussed on BP forum extensively, so search for other discussions and educate yourself. 

On the expiration of the Lease term pursuant to subsection (a) above, the terms of this Lease will continue in the form of a month-to-month tenancy, increasing $300 a month on the last day of the lease except where prohibited by applicable law, regulation, or ordinance.

Hi there -First, I am sure you are aware that it's a prohibited transaction for you to be making any personal use of the acreage owned by your IRA account.  

Custodians tend to take a more conservative approach when reviewing alternative assets for investment, as they want to avoid the custody of any assets that may be involved in prohibited transactions.

In particular, you must get educated on the "self-dealing" prohibition.  

src=/program_o...2.)What Is Prohibited?