We prefer distressed properties for numerous reasons such as increased returns through sweat equity/forced appreciation, and what we fill will be lower long-term maintenance as our properties have received significant if not complete remodels.

Issue is that I'm looking to purchase a property with another individual living in the unit and our combined income is greater than the allowed max income..So my question is, is it possible to sign the contract myself and get the house in my name but sign a separate contract with the other individual obtaining half of the down payment/ payment for any expenses and they receive returns similar to me in a 50/50 partnership?

They hold the funds, sign the documents, cut the checks for acquisition & expenses and receive the income - all for the benefit of the IRA and at your direction.  

I never received receipts as payment for rent.

I received a conditional approval.

Hi BP,Good morning,Over the last couple of days, I've received calls from potential sellers.  

I received a lead today from my website from a gentleman wanting me to take a look at a property he inherited.  

I have received some property information from a couple of realtors based on inquiries I requested from LoopNet.com.

Either works:1) You pay rent as an expense, as well as receive two rents as income.or 2) You only receive the other persons rent.I would put in the two rents in the analysis for future use if you move out.

You can never take more than your share of profit; similarly, you can't have your IRA receiving more than it is due - it could be considered an illegal contribution to your IRA.