I'll be acquainting myself with Vegas more before moving forward with anything, so I'll be visiting over the next several months to understand the area better.

If you go that route you need several documents to protect you and effectuate taking over mortgage payments (POA, notice to release, etc. )If you only have a strict 90 days to do this then in your agreement that should be spelled out but several things depend on your relative and how secure he wants to be in the fact that you will basically hand the house back over to him at the end of 90 days if you haven't sold it.

I am looking at several buildable level lots for sale in the Los Angeles area, they have real streets not paper streets, they have houses most of the times on both sides... is it still a wise idea to build on a lot in L.A from scratch? 

I have several properties I hold as rentals, that have been owned long enough now that they are completely paid for. 

Congratulations on the upcoming baby and hopes to great health.

It may not appreciate much now, or even take a small short term dip, but several years from now you will be set.

Hi @Britt Smith I know of several options in St Louis including the brokerage I'm affiliated with. 

Or do I consider this after several years of renting and then change out later once I build up CAPEX.

Account ClosedSeconding the concept of "just don't go there".IRS rules are strict about avoiding any direct or indirect transactions of provision of benefit between and IRA and a disqualified party, in either direction.You and any LLC you own are disqualified to your IRA.The IRA may not lend to you or any entity owned by you or a disqualified party.The penalties for engaging an a prohibited transaction are severe, and not worth messing with. 

I've bought several houses of my own in the past, but never invested.