All kidding aside, whenever zoning or permitting is involved always call the local authority with control so you get accurate information.

@Alan GrobmeierOnly one of the three discusses partnering with your own IRA, the other two show examples of IRA partnering with someone else (non-disqualified person).The author in the first article says: "Although you are technically still considered to be a “disqualified person,” this type of arrangement is possible because you are not buying, selling, lending or borrowing to or from your IRA or using your invested property as a personal resource."

Going forward, it might be worth asking if the opposite party is authorized to conduct a RE transaction here in the States Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Going forward, it might be worth asking if the opposite party is authorized to conduct a RE transaction here in the StatesDid you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Your local tax authority could point you in the right direction, but you likely won’t understand all the implications.

I am not quite sure where the author is coming from.

(D) "Institution of higher education" includes all of the following:(1) A state institution of higher education, as defined in section 3345.011 of the Revised Code;(2) A nonprofit institution issued a certificate of authorization under Chapter 1713. of the Revised Code;(3) A private institution exempt from regulation under Chapter 3332. of the Revised Code, as prescribed in section 3333.046 of the Revised Code.(4) An institution with a certificate of registration from the state board of career colleges and schools under Chapter 3332. of the Revised Code that is approved to offer degree programs in accordance with section 3332.05 of the Revised Code.

Main thing I can say is to learn all you can, and since you are young, you will need someway to build trust with people and be viewed as an authority.

Or better yet, try and strike a deal with the taxing authority, maybe settle for less, and tell your friend you’ll take the house and take care of the taxes.

@Nicki HardDepending on your mortgage agreement the transfer of the underlying property will usually trigger the due on sale clause that will make the lender ask you for a balloon payment all of the principal and interest due.Some type of loan will authorize a transfer to an LLC where you are the sole member.One option to get around it is by transferring the property to a land trust where you are still the beneficiary.