Hey All,I am new to BP and getting involved heavily in learning more about real estate investing. I am looking to buy my first property as we speak and would like to house hack it. If anyone has done this strategy and...

Also, do the rules change if I am living in one side and renting out the other?

It is applied to any tax you might owe at the end of the year, any extra will be refunded. 

@George EvansIts really important to learn the basic rules of investing with a self directed IRA before getting involved.

I'm not sure what the rules governing LLCs are in CA.

You can also apply "off line" payments to Cozy.

Things change so I'm not ruling Missouri out for him completely...

I always found it ironic that by paying more taxes than needed, thus having less money than you could, you can get a loan easier.There is a reason the government made rules on who could be approved for a loan. 

But should you get interested in CREI such as multifamily or self-storage, the game rules become much more favorable, since lenders look at the asset and it’s performance, the syndicator’s funding power and partner quality to increase NOI rather than looking at the individual capital investors.

Lay down your rules and make sure they are aware no deviation will be permitted, they will be strictly enforced.