But now I realize that you are in that category of the successful and experienced and are here to benefit the group with your contributions.

In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a specialty trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by your IRA.

Move funds between your bank account and the LLC’s as owner draws or contributions to the LLC — there is no tax for doing that (so it too frequently it’s been said is bad too sometime).

There's a lot of reasonable causes for you to have to get a second property the following year so I would echo a lot of my peers and articulate your situation in a more meaningful way to your lender.

There are people I want to thank but maybe I'm expected not to because it's not contributing to instructive content.

Quick reminder on multi-families: There’s a 3% borrower contribution requirement and dependent upon the findings they may need 3-6 months reserves.

I will also be contributing a certain percentage of the cash needed.

Thank you all who contributed so far, your insights were helpful.P.S.

The population and job growth has contributed a lot to the real estate market.

See if everybody is onboard with keeping the  house and if so discuss how everybody can contribute a certain amount to cover the repairs.