We generally host families or alumni friend groups for events related to sporting or the University.

We have a renter that was mainly interested in location to relatives and schools.

As such you need determine what expenses/costs are related to the investment property and what are related to the personal residence.There are a couple of accountants that frequently contribute to the community.

Keep in mind, you are comparing what your self-directed IRA can do relative to what a conventional stock market IRA can do.

There's also some deferred maintenance relating to roof and foundation. 

If you want to use that contractor again, and you relatively like them, think about agreeing to a modest renegotiation.  

@Alex Kamunyo it was a purchase agreement with a relative of a friend, they needed to move.

I'm from NY originally, still have relatives in Jersey, knew a few wise guys and spent countless nights at the Bada Bing. ;)Anyway, at first blush that deal doesn't sound enticing enough to do a sandwich lease. 

I saw your other post and it appears you're asking pros on this forum specifics as it relates to your return for DIY preparation purposes. 

We frequently provide value to the forum by answering questions and posting updates to the tax laws they relate to real estate.