At the same time I think a good commercial broker who specializes in multi could probably give you all the answers as well in hopes of gaining your business.unless I guess your looking to be one of the new syndicators on the block instead of buying a 60 or 100 unit your self. 

You may not personally benefit such as by drawing income from the rental personally, nor may you inject value into the IRA through the provision of goods or services such as performing work on the property.Basically, you get to be a fund manager and deploy your retirement savings into an asset class you know and understand with these vehicles. 

Being as young as I am I have been having a lot of trouble trying to find resources I could use to jumpstart my business and start to gain experience.

Please correct me if im wrongdown-payment: 400koriginal note pay off 250kRTF 8kcapital gains tax aprox 20% of 100k (400k-300k)gain ) = 20klawyer and fees 12kNet cash on closing 110k6% Trust Deed for 450k over 15 years will generate about 4k / month trust deed re-occurring expense or initial expense. is there one?

I know the numbers are not extraordinary but would you consider this a good opportunity for someone eager to get a first deal and gain some experience?

The benefit for the poster is that you begin to establish credibility as a knowledgable contributor to the community.

If it has YUGE capital gains have him leave it to you in his will.

But once we move into the residence and no longer rent it out, won't we no longer be eligible for the capital gains exemption?

You can use the 1sts foreclosure asLeverage to get the 2nd to settle for less than is due and create eauity in the deal, plus whatever You Can Gain By Fixing The Property Up If There Is Money To Be Made There.

Unless you're closing so many deals that you'd run into scheduling conflicts, a good working knowledge of how your lender determines the timing of your first mortgage payment can help you optimize the benefit from the rental proration (assuming the property is currently cash flowing).