We have dealt with this before and it can be a nightmare.

I thought this was not supposed to be possible?

Refinancing to agency may make this a great dealGood LuckGino

if your doing a senior project I would suspect your best and most cost effective landing solution is going to be a local community bank that loves real estate.. in my experience most will want 50% down on the dirt and a ton of experience and a really strong balance sheet.Myself I always pay cash for the dirt this makes finding a lending partner much easier.

What made you interested in investing in this type of deal?

I feel like I've heard a few podcasts lately with guests that have done this strategy, unfortunately I don't remember their names.

(A partnership tax return is due March 15th, so in this instance, the partnership return will need to be extended).2.

If you can do this, that would be best!

Leverage in an IRA will produce Unrelated Debt Financed Income (UDFI), subject to Unrelated Business Income Tax (UBIT).There are plenty of investment options to deploy your IRA funds, but again, using your IRA in connection with this transaction will disqualify your IRA. 

But man, once he got that first deal under his belt, he couldn’t believe how much easier things clicked from there.