I think my main challenge is to find contractors that can help for such rentals.

The IRS is even challenging time spent searching for properties; stating it is their position this is "passive" and does not count toward the 500hrs.

I'll have to do a better job of pointing this out in the lease or maybe add a 1 page 'Rules of Engagement': A straight forward, no bs, bullet pointed list of expectations of tenant.

Getting the utilities in-line was a challenge, but we did a lot of work on tightening the place up, installing high-efficiency HVACs (one per floor), etc.

I think its challenging and rewarding.I took a very good seminar back in august and since then I've devoted 101% of my time, personal resources and efforts to succeed.

Buyer gets cold feet, backs out before dropping off option fee / earnest money.Day 44 - Submit highest and best offer to bank, for offer #3.Day 60 - Bank comes back, tells me to write a report to challenge price to get offer accepted.Day 67 - Offer #3 is accepted.

I checked with Satchie Carvounis at Security Trust and she confirmed that: No the IRS rules don't address this situation, it simply states that the IRA can't engage in any transaction with a prohibited party.

They have been around quite some time and have an established track record so I expect to engage their services as soon as I have a deal locked up.

There is no official redemption period in California but the owner have the right to challenge the tax sale up to 1 year.

I have a challenge for you folks.