IRA publication 560 and the following IRS link shed more light on this. https://www.irs.gov/Retirement-Plans/Retirement-Pl...

This could mean living there for some time and learning anything from the public transportation to the grocery stores nearby. 

Built in 1904 (public record).Seller is asking in the high $200Ks, which there is no way I'd ever consider.

@Cameron PriceOne typically does not just "setup" their own Solo 401k plan.There are firms that specialize in these plans with a focus on the plan being self directed as opposed to a Solo 401k offered by a brokerage firm that will be limited to publicly traded assets.  

The number of foreclosures coming through the pipeline have reduced but you can still find a good deal.Do you invest in the Ocala, Marion County area?

No mineral rights Yes it does reduce the value of the property.

Be glad they offered a reduced payoff.

Your best option is to therefore negotiate with the city to see if they will be willing to reduce the fines.

I have a degree in Public Safety Management.

The real estate is effectively inventory in a sales business, just like refrigerators or stereos.Passive sources of income such as interest (i.e. hard money lending), rents from real property, dividends and royalties are not subject to UBIT.This concept is documented in IRS publication 598.The ROBS program is an entirely different structure as compared to a self directed IRA.