Pretty much everything in the house is broken from A to Z.

I have not done a lot of research on laws governing self-directed IRA business transactions, but with self-directed 401ks, the IRS seemed to be pretty good at covering all their bases to make sure that if I am getting that tax benefit, I remain essentially housebroke until kids who are my age are calling me grandpa.

@Gabriel EhrlichThey are interested in everything ... rentals, flips, new construction, multi-families.That is a pretty wide range of choices.

Another question, which I'm pretty sure I already know the answer to, will a bank even lend to me for a property like this?

Fannie Mae guidelines are pretty strict.

@Ryan Blake I'm pretty sure they do but also they provide a RMLO services.

I forget off top of my head for VA but pretty sure it's for your primary residence.

The downside is office unIt can sit vacant for an undefined amount of time, maybe years, whereas multi-family is pretty easily replaceable assuming proper supply/demand.

40k for a complete gut job sounds pretty cheap.

I was pretty pumped but knew there would be a lot of interest.