Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m)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.

Create a new lease with whatever terms you want.

I created a Facebook Business Page and launched a Promotion  facebook.com/pg/rjbuyshousesforcash4.

Yes, I'm in Boynton Beach too and the redevelopment is creating some interesting shifts! 

But first, here's some homework for you - on one sheet (digital or analog) write down:Pull out your comps research and demographics, from this create an ideal customer. there's plenty online to walk you through how to perfectly describe this person in detail. 

So I just created my list of run down homes that I plan to send mailers to and have a couple owners who are listed as revocable trusts and revocable living trusts.

My CPA recommended creating a new equity account as the value of the discounted note price.

If it is a purchase, with cash, there should be a P&S contract stipulating a certain price, so he'll have a basis to pay his capital gains tax, and for you to create a basis for the half you bought from him, for tax purposes.

However, I recommend creating a simple form so you're ready the next time this happens.Are you reducing the tenant's rent $200 for Christmas or letting them pay 15 days late in June without a penalty?

What I wrote above does not create an attorney/client relationship between us.