You are considered to be disqualified person to your 401k and the IRS rules prohibit any transaction between qualified plan and disqualified person.Taking early distribution not only will be subject to penalties, but also to taxation on both state and federal levels, as a result you may end up losing 40-50% of your 401k balance, not a wise thing to do.

It just may not be feasible or wise to spend the time to create a database, maintain contact with owners, lenders and prospective buyers when there are few transactions).Conversely, available product is scarce in major markets, and as a result, a MHRV broker in a nearby state likely knows many eager qualified buyers.In large markets, I think posting a listing on Loopnet or other listing sites can be the kiss of death for a good quality/easily financeable property – before you know it, tenants and employees are alerted, and you have a bunch of worried employees and tenants on your hands.

I recently worked with her on a similar transaction and she and her underwriters were fantastic. https://www.easternbank.com/murphy#They are a portfolio lender with 4.25 rate.Good luck!

Where the difference between mortgage and rent is almost practically nothing due to the fact that we will be engaging a property manager and now we re at a cross road if to sell though most likely texas will be our retirement city eventually.

Today not many bank owned properties and even it is they're ok with it as long as you can provide operating agreement and articles of incorporation to ensure arms length transaction.

Are you offering transactions, do you want to learn from them, make a friend, start a REIA, borrow money, build a buyers list?

Start by researching rates with some local lenders, most people recommend credit unions and local banks versus large national chains.

Such reciprocating transaction is not allowed and would disqualify your IRA. 

It doesn't require an attorney, just an attentive title company escrow officer who prepares the documents and handles the funds necessary to complete the transaction. 

Commission splits, desk fees, transaction fees are not very high on my list of priorities.