I would think these two go hand in hand but I have also heard that you can invite more lawsuits your way with this strategy and also that you have to pay 70% market value for homes if you are licensed.

It's is very simple, think of IRA as separate entity (separate from you).

I'm sure you know all of this but it's just never as simple as pooling money and focusing on a strategy.

I moved to Florida a little over a year ago, I bought my first (and only) house about 4 months ago.I am highly motivated to start in the real estate filed.There is one problem- MONEY.Right now I'm trying to save money to invest in a second home.Every morning I wake up to a 9-5 job, stare at the computer all day,and I feel like I can do so much more.I know how to work with my hands, and I renovate in my free time.I would love to work in this field and to learn the profession.If anyone is interested in mentoring a young and motivated guy, please leave a message here.Thanks!

Vipul,An ADU is a simple Structure.

Just to keep things simple - I usually split the income after all expenses from the property based on the % that each person put into the deal. 

Pretty simple concept.Tenants can’t make rent, and/or you can’t make your mortgage payments.Bank takes it all.

Anything built within the last 25 years is likely wrapped up in an HOA, so getting your hands on the CC&Rs should be your top priority. 

With a few properties under my belt I know there is x amount of equity in each of them that I don’t know how to use I looked into the brrr strategy but for renting is it that simple ?

You either force the seller's hand by demanding the concessions as a condition for keeping the property under contract, or you accept the property as-is with whatever they're willing to give you.