Question to the folks very knowledgeable about self-directed IRAs:I recently won the bidding for a property at a courthouse foreclosure auction - my "registration" at the auction was under the normal LLC I do business with (buy and hold) so that's where the deposit for this property (10%) was paid from.I have not closed on the property yet.

I would definitely talk to another lender cause the one who is giving you this advice may be a little wonky or possibly self serving. 

Your coursework, the people you meet, and your experiences will add to your knowledge base, enhancing your real estate objectives.

Do you self manage? 

Instead of hiring the people my self I would have the property management company handle personnel issues and I would use the time I save to manage the company and the asset not the people.

I want to know objectively how effective Bob Diamond's Overages Program is?

ThanksPrice: $210,000ARV; 265,000Current Rent: $13502018 Tax assessment $259,1332017 Tax assessment $241,900Thanks everyone!

It is the easiest money you can make and is invaluable for acquiring financing.I would suggest you find another job asap.You can not transition from a W2 to self employed till your NOI is at least 25% higher than your W2 income.

But I met thousands of folks from all walks of life and I'll bet less than 20% were totally self sufficient on passive income. 

What's the ROI look like (for self-managing)?