Purchase price: $450,000 Cash invested: $120,000 My first duplex, purchased October 2019, built in 1958, completely legal duplex, with new furnace and A/C installed by sellers prior to closing.

@Pradeep C.

Most cities follow this requirement.505.4 Water Heating FacilitiesWater heating facilities shall be properly installed, maintained and capable of providing an adequate amount of water to be drawn at every required sink, lavatory, bathtub, shower and laundry facility at a minimum temperature of 110°F (43°C).

I chose to buy it from the turnkey catalog because it has a high cap rate & was under $70k purchase price, has stable rents in a B/C+ area, and in a quiet isolated plot of land on top of a hill.

This is a structure where you create a business (a C-Corp) that flips houses. 

Hi Bill,If you are not self-employed and cannot establish a solo 401(k) plan, one option is to have the IRA own a C Corp and have the C Corp borrow the funds and make the real estate transaction. 

@Jordan Moorhead we would like to start with a C-class SF or a small multiplex.

@Katrina GillrupIn my case I have created a C Corp as a management corporation to manage all my properties.It creates some distance between operation and ownership.Also the C Corp has many fringe benefit advantage.You will have to check with your state laws if the managing entity needs a specific licence or not to manage other’s property.

C-corporations, for example, are "double taxed" which means they're taxed once on their profits as a corporation, and then the owners of the corporation are taxed a second time, on their personal income taxes, after receiving their share of the already-taxed profit.

A bit of background I am based in San Francisco and have been investing in multifamily C class assets in Columbus, OH for the last three years.