Any experience with cash out transactions? 

@Daniel SmithI've seen conversations discussing the view that some forms of wholesaling are deemed illegal under Ohio law unless you have a real estate license.

@Carrie Giordano@Linda WeygantAfter doing several hundred HUD transactions, I have never seen or even heard of HUD paying or doing any repairs unless it was damage or vandalism AFTER the contract had been ratified by HUD. 

a developer fee is somewhat standard in a transaction of this nature.  

And I make it look like a purchase agreement with dates, how transaction will be completed, their info, and a place for them to sign and return to me.

@Jami MortonWhen I read your post above, It sounds - please correct me if I am wrong - as if you have a pile of IRA money and are out investing without much education.There is much more to navigating the tax code related to using a self directed IRA than "can't be for personal use".I hope your custodian or advisor provided you with some introductory guidance as to the rules for self directed IRA plans and/or that you have a good CPA or attorney guiding you.Flipping with a self directed IRA can be very profitable, but is an advanced strategy.All IRA transactions must be entirely at arm's length, meaning you can negotiate and make decisions, sign contracts, and handle expense and income transactions, but may not benefit in any way OR add benefit to the IRA through the provision of goods or services.  

One colleague asked me why I wouldn't "just rent out the rec room illegally so I have the duplex - the "City would never find out - after all, there is a shortage of housing in the area."  

Or so I thought.Bank shoots back: Would your client be interested in proceeding with the transaction if we were to offer financial concessions?

As I am overseas, I will be dependent on the onshore team to complete a transaction.

Without consideration the transaction didn't happen.