Land development and/or self storage...

Just get it out there if you are confident with the end result.

It is not a self directed IRA.

I know area well and have spoke to neighbors so i feel confident about the property enough to move forward just paying those premeiums totally kills my profitability.thoughts?

Another quick note... if you're self managing, as it sounds like you are, that 50% guideline moves down to more like 40%.We've had discussions on what to really do with that value especially given a scenario like yours where you don't expect any big capital expenditures in the near term.

But, like Rob said - $500 isn't much to sue on unless he is confident he can represent himself in the matter - hiring an attorney to sue you will most likely cost more than $500 unless he is friends or family with an attorney who is willing to do it for nothing (or close to it).

I do see adding a bit of legitimacy with an owner or buyer in getting a third party involved, it appears to be "more formal" "legal" maybe more "trusting", but that simply goes to the lack of professionalism in gaining the confidence your parties may have in doing what you're doing.

I also have a self-directed Roth 401k, so I'm wondering how my real estate profits will figure into my contributions.

I'm confident that with financing this is a very good deal.

Do you have any type of Self-directed IRA?