Also, close relatives are not allowed to lend you out of their SDIRA anyway.giving them an equity position aka partnership.

I'd be happy to chat about the construction process, LLC formation and partnership agreement!

I would also like to develop partnerships with others.  

@Michael McCallaYou need to accomplish the following steps.1) Create LLC entity (you can consult with an attorney, do it through the help of a website or do it yourself)2) Create an operating agreement(especially if there is more than one owner I.E. wife) - consult an attorney to draft this3) Transfer title from your personal name to the LLC(work with an attorney or a title company to achieve this)4) The LLC will have to file a partnership return on an annual basis so you will need to consult with a CPA.Good luck!

Now for the question...The basement is such that it can be made into a very functional space for an efficiency or just a nice laundry and rec room.

@Steve Morris Are you having trouble with the quote function?

Then I look at bedroom count (I like 3 bedroom properties but I will buy some 2 bedroom if they are a good enough deal).Then I look at the pictures to see the extent of the rehab needed and to see if there is anything functionally obsolete about the property such as 7 food ceilings or small rooms with no closets that are trying to be passed off as a bedroom, or a really small kitchen that doesn’t fit any appliances.If the price is right (all-in at 75% of the ARV and it can cash flow about $200 or more and I’m walking into 20k - 40k of equity when I buy the property) and the property isn’t too weird, I’ll buy it.

A few tips to help find probate leads 1.Read the Obituaries.2.Visit the Probate Courts.3.Newspaper Probate Listings. 4.Buy Leads Online. 5.Power Partnerships with Estate Planning Attorneys.Good Luck

As we both come from tech backgrounds, our core focus from Day 1 was to try to figure out how we can most effectively streamline the operations and automate as many of the functions as we can.

I specialize in exchanges and partnerships (typically real estate), but I’m pretty well versed in tax overall.