You should really learn to evaluate all the expenses and run the numbers, Cha Yang.

Hopefully there is an alternate repair beyond breaking and repouring, that stuff can get expensive. 

He's allowing me to keep the property at little to no expense to me.

Tub is more expensive, but they make an epoxy that can be painted on that will make it look a whole lot better than pink.

Life and the school of hard knocks has taught me some expensive lessons.  

You know Los Angeles real estate is getting expensive when Jay Z and Beyonce are getting outbid."

However, I show VERY low taxable income due to business expenses and deductions.  

I've had full ride scholarships the whole way through and had passive income that paid for living expenses so I didn't have to use loans for school itself. instead, during undergrad, I used subsidized   (interest doesn't start accrue until 6 months after you graduate) loans at 3% to pay down the principal on a mortgage I had on my first rental property which was at 6%.

My guess is underestimating costs, either reno on the front end or the ongoing expenses.

As the real estate would be owned partially or completely by the IRA, all income or proceeds generated would go back to the IRA, same with expenses, the IRA would be responsible for those as well.If $75k is not enough to make a complete deal, you have other options:1.