@Matt Williams Exposed brick is a hot selling feature right now in older properties...get the fireplace cleaned up, seal it, and showcase it...I'd only consider eliminating it if there is a structural issue......where is your property located?

@Michael @Michael Breedlove most markets are competitive right now. you need to be more proactive and try and get some off market deals.Did you try driving for dollars, knocking on doors or direct mail marketing?

There are exceptions as some Turnkey outfits are not bad, but there is a difference for sure.I have two out of state "Turnkey-type" investments (one an individually owned property, same for the other except in a self-directed IRA).

View report*This link comes directly from our calculators, based on information input by the member who posted.Hello,I am interested in this property.

Account ClosedSeconding the concept of "just don't go there".IRS rules are strict about avoiding any direct or indirect transactions of provision of benefit between and IRA and a disqualified party, in either direction.You and any LLC you own are disqualified to your IRA.The IRA may not lend to you or any entity owned by you or a disqualified party.The penalties for engaging an a prohibited transaction are severe, and not worth messing with. 

Join some free REI clubs, find a mentor, make a plan, make some goals....Inventory current assets to see if your goals are realistic.I would start by finding a mentor and setting some goals to determine which direction to go in.

After you graduate into 5+ unit buildings you will find that its likely easier to build a network of mid-market listing agents to get directly on their off property lists.   

If cash has a opportunity investment value of 10% and you have a fully paid for 200K property the first $1666 of your rental income goes directly toward a return on your equity.

Well that is an ambitious plan, but if your lender is one of the large Banks your partner will not be able to purchase the distressed that directly.

We need direction with how to make this work!