The income of the business is taxed, though dividends issues to the shares owned by the retirement plan would be tax deferred.You could potentially establish such a corporation for your real estate business, so long as you will be actively engaged in earned income producing activities like wholesaling, flipping or new development.  

For us, if the tenant will be paying the utility direct, the tenant will establish service in their name by contacting the utility and doing so.

As a professional I understand that if the phone rings it might be someone I'd like to establish a good relationship with, being courteous begins with answering the phone.

Pre-Sale Inspections are intended solely to establish that properties comply adequately with zoning and property maintenance codes.

Establish an ARV ($175K)2.  

What you will need is a Self-directed IRA, after you set on up you will be able to request a direct rollover from your 401k into your newly established SD IRA.

If they are you should consider establishing an LLC & taking advantage of Illinois Land Trusts for your current portfolio & future purchases. 

I think it both saved them money and helped them establish some ownership of the house.

If you are lending 100% of the after repaired value, as @Ellis San Jose says, that would be foolish.And for me, I would be reluctant to loan 100% of purchase + rehab costs until I had a more established relationship with the borrower.

Establish value - Do this through a BPO, get the comparable sales data for that property, pictures, opinion of value. 2.