Any IRA, including an inherited account, can be setup to be self-directed.  

If you refinance the property now the loan would be $100K at 20% down and $80K would have gone to repay the original loan.First, if these are your numbers for rehab cost and after repair value, it is probably not a good deal to begin with and you shouldn't be doing it.

(Sales price minus selling costs minus purchase price.) plus maybe 10% in state taxes. 

Our CPA told us if we transferred to NJ LLC with both of my parents as 50/50 owners, they can treat the LLC as a single member for federal tax purposes and continue to file on Schedule E because they file a joint return, but this seems to be inconsistent with what I've read.If we want to transfer to an LLC and continue reporting on Schedule E on their joint tax return, can I simply set up the LLC with one of my parents as the member and have each parent deed their interest to the LLC that will be owned by one parent?

The rationale being you are reducing your personal housing costs as the rented unit will be covering some of the costs. 

Depending on the deal's profitability, some will only require you to bring 10% + closing costs to the closing table.

His cost basis at that time plus any extra amount he spent would be his new cost basis.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The community undertakes tactics intended to delay the approval process, add carying costs and force design revisions.