@Jennifer UmbaughTo learn more about the IRA prohibited transaction rules, see the following. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactions

Trying to set up some self-imposed 'trading rules' for myself as far as flooded properties go -- to what extent, in what areas, I will play in that segment -- but that is a whole other topic, though, isn't it.So there you go, another new guy in HoustonMark

As along as I meet the 2 of 5 rule.  

Note: I think this is a really hot area which will continue to grow given the proximity to Brooklyn, which has exploded the last few years. 2) bought my new primary 1 family forclosure home for $325 in 2016 and house hacked it to get some supplemental income, which covers ~50% of my mortgage.

Rule of thumb is that it is who you know then what you know.

I would absolutely not have the tenant responsible for any repairs under $50 because your tenant will not fix whatever is broken and then you'll have a bigger problem later.

He estimated $2800 for the job and 50% down.

I'll PM you, so as not to run afoul of the rules of the forum, but here's a quick look at the state of the market in Plymouth County.  

You will find plenty of great post in this forum already on the subject.As a general rule, but your specific case may need different answers:- You would need to have the LLC in the same state than the property.

. $137,500 Purchase price (25%) downMOnthy payment PITI--$1205Gross rent $2100/month2  ONe Bedroom units $625/month1  2 bedroom unit $755/month garage rented for $100/month The 1 bedrooms are 50-75 under market valueThe 2 bedroom unit is about $200 under market valueCoin op laundry in the basement also.