I’m considering the same strategy and would love to hear any lessons/pitfalls you’ve gained.

My husband and I both come from Real Estate savvy families, I made a comment a couple years back about purchasing a rental property for passive income and my husband told me not to get ahead of myself.

I’ve already gained a lot information just from reading the forums.

@Patty PuckettI know IRA custodians received them but they don't file them with the government since investments in IRAs are considered passive investments.

I am set up rather well at the moment with equity, I am now looking to set up for retirement with a focus on passive cash-flow (leveraging the equity I already have accumulated, a good part of it in SD).

Not only do you get to create equity from the rehab, but you also get to live in a brand new home, which you can sell capital gains tax free in 2 years. 

This is the best way to put off capital gains tax for the owner as well.Happy InvestingDerek Dombeck

My last lender pointed out that if you reported significant gains or losses on a K-1 he would want to see those returns anyway.

It is all passive rental income.

One thing I might suggest is to be very active in the forums when you can: you gain visibility and it leads people to check out your profile.