The subject or self-directed IRA is a frequent discussion here on the forum so I would suggest you simply search related keywords and start reading previous discussions, there is enough content to keep you busy for days :-).

This is a subject that is close to my heart!

Here's what my attorney says:"As to the LLC issue, the CA FTB does take the position that an out of state LLC that owns no property in CA, with a CA resident who is a person that has "authority" to make decisions for the LLC (as a member or manager), is subject to the $800 annual minimum tax.

The subject or self-directed IRA is a frequent discussion here on the forum so I would suggest you simply search related keywords and start reading previous discussions, there is enough content to keep you busy for days :-). 

Example:Purchase:  $10K (cash)Renovate:  $35K (cash)ARV:  $70K to $75K (based on BPO or subject-to appraisal)The actual ARV of this particular lead is $73K.  

I can't post it here but I wrote an article on the subject if you'd like to check it out. :) 

The seller could list the property for $1, subject to bank approval, and it would carry just as much weight. 

You must actually incur an expense in order for it to be deductible.If you want to pay yourself a management fee, you can do so, but you then need to declare that management fee as self employment income (or into another entity if you like), thus subjecting it to self employment tax.As an individual, you are a cash basis taxpayer (unless you make some pretty specific elections otherwise).  

Anyone with more information on this subject please send it my way! 

But that is a different subject.