@Davone Colbert I agree that transparency and honesty are a must, and would be 100% transparent about my intentions. 

I suggested a 1031 exchange and in reading the language of what they can actually purchase, it says the asset must be similar, not exact. 

To claim the home office deduction, it must be your primary office and used exclusively for business.

Hi All, here's a potential deal I would love some opinions on considering a fundamental decision must be made for it to be viable.Triplex currently listed at $127kDown Payment: $31,750Gross Monthly Rent: $1,500 (500 each)Estimated Expenses:Mortgage: $500Property Tax: $80Property Management: (10%) $150Water + Trash: $150Repairs (5%) $75Capital Expense (10%) $150Vacancy (5%) $75Total: $1,180 MonthlyCash on Cash return: $3,840 (About 12% return on investment)Property was built in the 1930's and states "could be rented for higher with work/repairs" Average comp rents seem to be around $600-700If I could rent each unit for $600, updated ROI could be up to around 20%... 

Stay out of the 435 loop :) Also, visit KC first(unless you are already know the neighborhoods).

One must truly understand this product.

At this point I step in to talk with the father who informs me his kids are only sick at the house, but not when visiting home.

They can't even offer you a checking account or car loan at all, so they must be good for something, and that 'something' is purchase mortgages and cash out refinances. 

So, the IRA is on title and the IRA is the borrower on the loan.Any loan to the IRA must be non-recourse, meaning no personal guarantee from you. 

@Bob Malecki - I used OSC as well, they must have different options available because the program I use let's me pick the coverage amount I want, but I also have to send notices to the borrower and inform FCI of any updates.