If that is your goal, then you can create a corp / 401K plan combination the IRS refers to as a rollover business startup.

I'm just wary to hop on the euphoria train like everyone here did back in the early 2000's.

Remember why we invest in real estate:1) Debt pay-down (your tenant will eventually pay off your mortgage...and you can accelerate this by paying more toward principal)2) Equity buildup (you are the benefactor of the equity in the property and can use it to buy more property)3) Tax (the IRS is pretty good to us as property owners :)4) Because we love to provide safe, clean, and reasonably affordable places for folks to live.

Bob, pretty sure from the IRS standpoint you owned a primary residence,  did some repairs and sold the property, so as long as you have not used this exclusion in the last 2 years you can use it for this transaction.

That would be a self-dealing, prohibited transaction per IRS rules.You could borrow from a current 401k.  

If this was an IRA or 401k then I certainly hope your friend has been informed of the IRS guidelines and the fact that he will incur UBIT (a special form of taxation on retirement accounts) on income resulting from these flips.

Just like before, but instead of an illegal 'chop shop,' it was a mostly legit business.He was referred to me by the head honcho at a local boutique real estate brokerage, where he was their "go to" plumber for all the properties they manage.I had to make him "get real" about his reported self employment income with the IRS in order to qualify for a mortgage.He now owns two investment properties and is working on saving up for his third, which he wants to be a MFR.IS THAT DUDE MR AMERICAN DREAM OR WHAT? 

Dollar stores like to hop into corner locations second generation space but not pay the rent money the initial pharmacy did to be there when it was brand new.  

Rental properties are actually treated pretty kindly by the IRS, relative to other things.

The IRS has ruled that properties that are purchased for personal use are not investment properties, and therefore do not qualify for Section 1031 treatment.