The house is assessed by the county at 117K and I think ARV is probably right around 130 to 135K.

btw, I really hope I'm doing something wrong because I've tried 5 local banks who do NOT lend based on LTV of assessed price (each time I spoke with someone in residential lending).

I'm 25 ....I still feel like money and self doubt are preventing me from taking the next steps.I am one to over analyze new things.

(it was basically stolen from us.. we had filed for bankruptcy, paid our lawyer to file for homestead so we could keep the house which we had no problem paying for, and the lawyer failed to file the paperwork in the right order, thus there was an objection from the trustee and we lost the house).

Lastly I developed and launched a new business unit for the publication that generates over $45k per month.I share all this not to gloat, show off or inflate my ego with self importance, but in hopes of your consideration as a peer in the business world.There is no question that anyone with a real estate licence is a business owner whether they work independently or are part of an established firm.

They are becoming a self serving political entity.

I have not had time to assess the deal properties yet but I specifically told my realtor what I was looking for in terms of DOM (at least 90 days), expired listings, fixer-uppers and shortsales.

So I now own a few houses that I rent out and am building more for self and others.

If you would have asked me a few years ago, I would have disagreed with you but in this market, in this economy and being self employed--I don't want the stress of millions in mortgages owed.We have paid off two properties free & clear and will have a 3rd one finished in 12 months (hopefully).

Hi Jon,Hi Jon,Yep, you are right...using any type of financing (mortgage, seller carry back) inside the IRA generates that nasty UBIT.I have shown my clients how to use options and lease purchase arrangements to avoid this problem.The better choice is a self administrated solo 401k since UBIT does not apply to this type of plan.Dave