Don't be too shy on securing more if you can continue to get those types of numbers.

I am not sure on the specifics regarding the costs associated with tenants abandoning personal property.Since we have 30 days to refund the security deposit, and if the tenant does not or refuses to claim any abandoned personal properties after X number of days, can the cost of storage or removal be deducted from the security deposit?

You also need to take into account if your competition is waving the security deposit for qualified applicants,charging a pet fee or not,paying for any water,sewer,trash for the tenant included in the rent,including appliances,or giving a rent credit on move in, and many other factors.Rent rates can look good until you see how many landlords you are competing with,quality of the product,and incentives given driving down the net rent before debt service and depreciation.

Then he can foreclose upon you and you can also have a forgivable caveat on the mortgage.I have done dozens of JV's/OP's and mortgages are just so much easier as they leave your investor secured, attached to title with everything laid out and clear.

There are no appliances inside until we get a tenant and the outside AC compressor is being installed (today) with a steel security cage anchored to some concrete piers.

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.

Even if you could put part of it together by yourself, you still need a skilled securities attorney to put the deal together.

A number of improvements were made, including better fencing and security and some of the large, hard-to-rent units have been divided into smaller ones.

The silver package is what I use, personally.

Yes, and I double checked with Satchie Carvounis (SDIRA consultant at Security Trust) that is correct as soon as the property has been 100% distributed to the IRA owner they can treat it as their own and don't have to worry about IRS guidelines.