This is a type of IRA that follows all the normal IRS rules and regulation but allows you to invest in things like real estate, notes and private lending without taking the distribution.

This will be a city regulation issue.

(below)"For small deals like this, there is no need to spend $10k in legal fees and jump through hoops to ensure you’re in compliance with SEC regulation.

Any remaining amount must be turned over to the city/county treasurer.The short answer is to check your local laws regulating abandoned personal property.

Also, your local city/state regulations may have specifics, but in California, the accepted occupancy limits is 2 occupants per bedroom plus 1 occupant.

You may be creating a nightmare even if the property aspects go entirely as planned and no one acts up.Pooling funds with 5 people is very much heading into SEC and state regulations.

I also need to know of the laws, regulations, and everything involved.

Some zoning laws are antiquated and you may have zoning regulations that are unfavorable to this type of housing.

I understand accelerated depreciation is one of the bigger deductions you can make.Also I live in Cleveland, Ohio, if anyone knows of any local or state variances or regulations I should be aware of when doing my calculations.

Just to point out a subtle issue.If you are only paying interest, you might think it is a loan and therefore the securities regulations do not apply.