You do not want to end up in that position.Another tip for you with a 1031 that I try to do with my commercial clients. 3 choices we look at submitting loi's with an (initial review period).

The few videos I do see are pretty much just clips of various parts of the process, but there's always gaps left out, and important pieces of the whole process from start-to-finish of investing in real estate.So, one thing I'm telling myself this year that I'll do is record the whole entire deal, from start to finish Starting off with just 'Let's buy something that will make me money' and record the search , negotiation ,rehab (if needed) , marketing, and income period for the property.Part of that though would be figuring out how to make it look nice, or at least contain the 'stuff' that seems to get cut, or people skimp out on.So, any input/ideas would be appreciated.  

Let me know if its worth it or if its something I can find out in youtube videos.

.- Plans submitted to about 2-3 different departments back and forth.

Since starting on this little journey i've alreadyI joined BP after listening to a few podcasts and watching a couple of YouTube videos that Brandon conducted.

It was a YouTube video I saw about someone my age and he had enough passive income to be financially free.

I am using Quicken Loans and I have submitted all the required documents and the QL agent is telling me to hand sign some application and e-sign some paperworks.

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC)  must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

It is difficult to build a referral base, so they will be happy to submit multiple, low ball offers for you, and preview properties that meet your criteria.  

Hi all - I bought a building at a good deal but as part of the purchase the City of Chicago is requiring me to submit plans and pay a permit fee for a basement in the commercial space that was remodeled to add a bathroom, but then cited for a city violation.