Namely, a repair budget for this house to placed under city control by the purchaser until the house is rehabbed, nearly 10x the actual cost of rehabbing the stupid thing. real cost30-40k, their estimate, 250k.

Hello,I am planning on rolling over my IRA account to a Self-Directed IRA so I can start investing using it for my real estate investing.Can anybody recommend a good Checkbook Controlled Self-Directed IRA company that I can use?

The property is still listed (red flag) and I am revisiting this opportunity.Asking Price: $260,000Apartments: 9 Units (Fully rented, average rent is approximately $370/mo per unit ... total $3330)Restaurant Space: 1566 Sq Ft (Currently rented for $1000/mo)Retail Space: 756 Sq Ft (Currently rented for $500/mo)Total Gross Revenue: $4830/mo ... annual $57,960Expenses:Taxes - $6098 (2.345% of Purchase Price)Insurance - $1800 (Estimation)Maintenance/Repairs (5% of PP) - $13000Property Management (10%) - $5796Vacancy (10%) - $6166 (10% + 1st month rent for vacancy)Miscellaneous (Garbage, Pest, Snow Removal) - $1200Water - $1500Mortgage (4.00%, 20-Yr Am, 20% DP) - $15120Total Expense - $50,680Free Cash Flow/Mo - $606 ($7274 annual) ...$67 per door.Debt Coverage - 1.481 or 2% Rule - 1.86%50% Rule - 61.35% (Allocation to repairs is heavily conservative.)ROI - 8.62%CAC - 13.99%Vacancy for the apartments are near 0%.  

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.

It also has a city notice on it in regards to the out of control grass.

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.

I have a third option - a renovation property in a holiday / vacation location for short term rentals and personal use...After playing with the idea, doing a bit of research and eventually finding and delving around in the State Controllers Office.