It will keep you engaged in valuable discussions, while you're getting plugged in.5.

Unfortunately, in the case of a flip with leverage, the IRA would be creating two kinds of taxable income it would be exposed to, based on use of debt-financing and engaging in a trade or business (flippng) as opposed to receiving passive income such as interest or rental income.A better use of IRA funds would be to act as a hard money lender to other flippers and receive passive interest income.

For example, proof of funding - with a loan in my personal name, I get a pre approved, and my agent on the deal sends that pre-approval along with my offer(s) yes, I generally submit more than 1 :) and the process moves forward from there but how do I show a seller (likely another investor) as well as the agent(s) I engage with that I have access to the financing to make the acquisition. 

I engaged in open and honest communication, discussing my plans for the property and emphasizing my commitment to revitalizing it.

These steps include:-Property Inspection: Engaging a qualified inspector to thoroughly assess the property's condition is paramount.

I got stories, just ask.9) Utilize local social media to vet contractors and take a pulse of the neighborhood, Nextdoor is a great place to see what is happening in your neighborhood, or join a local Facebook group for recommendations.10) I would discourage you from buying in an area with a HOA, most are poorly managed and the dues add to your carrying cost.11) Work with the door open and engage anyone who is looking at the house.

I wear the hats of both CEO and Broker, and also serve as Vice President for the San Antonio chapter of NARPM.I would be thrilled to connect and engage in discussions around property management strategies, insights into NARPM, investment opportunities in our markets, and much more.

I am still very new to the real estate game and have a question about engaging contractors.

You can always try and get reimbursed for the cost of the appraisal from the seller but let the lender engage the appraiser directly.Regarding a Phase 1 environmental, you may want to go ahead and budget for this report regardless of whether the lender requires one or not.

Honestly I would recommend reaching out to an accountant or bookkeeper on BP that is actually engaged in the day-to-day operations of REI businesses and see what they think.