It is possible to do a lease that has language that you and the owner will attempt to complete a short sale (will need a realtor involved) at a specified price and that if it is not successful by a certain date then you can get out of your lease. 

I think when doing rentals in a retirement account the only way to go for me personally is to go the 'checkbook control' method.

Glad to hear you decided to get more involved and officially join the community... 

Thanks Chris I hope so too :) Yeah I initially thought to only use the line but someone tried to convince me there is more risk involved that way.We are long time friends and have meshed well just not in business yet.

You should never even consider starting, based on the risks involved, until you have everything ready.

I’m looking to get involved in the Chicago market once I get a grip on this whole thing a little closer to me, maybe we’ll cross paths in a few years!

PS- feel free to ask me any question you would like regarding FHA 203k or FannieMae Homestyle- I have been involved in over 1000 of them from the lending side over the years and happy to provide you guidance.  

There's usually no emotion involved and we're just trying to get to a meeting of the minds, and I know the buyer's expectations are being managed.

Electrical submetering involves the installation power meters (also called power monitors, electrical meters, or energy monitors) that can measure energy usage after it reaches the primary utility meter.

Both you and your husband are considered to be "Disqualified Persons" to your (or your husband's) IRA and can't be part of any transaction involving your IRA.