I hadn't had a chance to develop a relationship with a local back since I moved to Wichita almost a year ago so I'm working to grow with one to improve this process in the future..

I'd love to develop a better understanding of that piece of the puzzle as well and if you found something you think looks good, let me know!

If anything, from what I understand, there’s even more development taking place in that area as we speak.  

Actually new construction development project.

But even if together you own less than 50% of the LLC, if your IRA enters into a transaction with this LLC - it will likely to be a "prohibited transaction" depending on the circumstances. 

There's other places close to it that could much easier be developed if that be the case. 

that's what all of us builder developers do.. 

He just wants to get rid of it and purchase a property in a better area that has less risk.The area (within a 10-15 mile radius) is about to get a boost - a lot of mixed-use developments (similar to developments that are already thriving in the city) because the market it so hot right now. 

My objective is to take these contracts and flip them to a developer.

I have a strong preference for something less, so I can develop my renovation chops.