profit. 

First off, I think the Tax Court would view such a transaction as “running one’s personal services (here brokerage services, aka putting buy & seller together for a fee) through a Roth”, treat the profit on the “assignment” of the contract as personal services, treat the money in the Roth as an excess contribution, and penalize the taxpayer for failure to file the excise tax return (Form 5329) & failure to pay the tax thereon.In light of this case, I think that the Court would certainly view an IRA with an assignment deal as “not at risk” – all it has in the deal is $100.

I have no place to put the profit and would have to pay taxes.

These will eat into any cash flow/profits you expect to make. 

Mine concern with this deal is how skinny the profit margin is.  190k x .65 $123,500 should be purchase price before deducting for rehab costs. 

Try looking at:The Best Types of Markets for Profitable Turnkey Properties

This implies that an RE investor in San Diego must find other means to profit for a purchase of an SFR to make sense. 

I never want anyone to get to the closing table and be surprised that I made a profit on their home. 

Repay the HELOC, bank any profit over and above that, rinse, repeat.

We're trying to decide whether to hang onto it, become landlords and use the equity to purchase our next place or just sell, take the profit and focus on purchasing another fixer-upper in an area we foresee appreciation.