Here's how investors that have worked w/ us have leveraged their Self Directed IRAsStraight Loans (equivalent of Hard money)Investment in to LLC that then invests in Real Estate (The investor was not a member of the LLC- the IRA was)Purchased the property out right in the name of the IRA (this included funds from the IRA for renovation & flip)Purchase of notes, performing & non-performingPartnered w/ their IRA- This is rather complicated but possible to do.In each case all profits went back to the IRA.  

As a posed to him defaulting and then I have to perform eviction proceedings which is costly and probably takes longer.

When the six is completed and performing, we will start pulling apart the 12 ... it is built in the classic H-block fashion of its day, so we could pull apart 1-side of the building at a time.I would start with bringing an inspector or contractor through and, based on the findings, you may want to bring in an engineer (structural), electrician, HVAC, plumber, etc to get a full idea of what you are about to digest.Congratulations, sounds like an exciting adventure ahead.

Last thing a lender wants is a borrower that has doubts and is unwilling to perform.

To a California guy, that is a wild concept, I know - but it is fact.So, in my opinion, a  4plex makes more sense (more people paying rents) - and in Bakersfield, you'll have plenty of comps.To a lender, it won't matter 1-4 family is all the same.So think of performance ration - in a duplex, you are living in one, you tenant moves out - you are paying the whole boat.  

You do not need a license in every state to perform property management.I am sorry for your situation.

This will be a major deal one way or another, either your time and effort being there doing a lot of sweat equity (which is fine if you want to do it that way) or a lot of money having others perform all the tasks required here.Somebody said the cost per door at 37.5 sounded high, I agree.

Sellers who have been arround the block once or twice have been burnt by buyers that could not perform. few things are more frustrating than finding out the day of the closing that your buyer cannot perform.

If there isa failure of Tenant to keep the landscaping in good order and to follow theseguidelines, Landlord reserves the right to hire a landscaping service atTenant’s expense (after a 10-day notice to perform covenant).c.    

CPAs are licensed by state but aren't generally restricted from practicing in different states unless they are performing public accounting services (think audits).