Hot/up and coming areas?

If you engage your IRA in an active business such as flipping properties then income of an IRA generated by this activity will be subject to Unrelated Business Income Tax (UBIT), but again - the IRA will be responsible for this, not you personally. 

@Javier Acosta There's a huge difference between "assuming" a loan and buying a property "subject to."

I saw what that did to a vibrant, hot economy and market.  

As far as the tenant goes...you should broach the subject of a lease (tell them how much you appreciate them but your accountant or lawyer told you there should be a lease).

The only thing I guess is if you cant sell the home then you head for the hills or you are using that " subject to partner or 3rd party approval "  card trick.You might want to approach sellers from a different angle. 

This is not too bad of a deal and if the area is as hot as you say and you can keep a renter in there long term or at least re-rent fast you should do ok.Good luck

There is no "Popular Guru" teaching lease-option to buy programs where the transactions will be compliant as intended meeting new accounting requirements (by everyone in business) and/or the IRS Code, they don't event touch the subject matter I'd bet on it. 

There are two things I love that happen when I am the listing agent on a property I know will not be hot, thus hard to move.

Pulling some "investor" stuff can get you in hot water as an agent.