In that event the tenant can not be served in eviction.

The main reason I have decided to become an agent again, is to have a cheaper access to the advertisement of my own flips, to get more leads, and find more properties to flip while I serve as an agent helping to advertise and sell properties, that have rejected "the offer from our partner to buy for flipping", but need to sell at market value.

This practice has served me very well.

I believe someone in Florida was served with a formal warning.IMO, when the Government forces an agency upon us, that agency now has the responsibility to tell the truth.

It works.Over the years, I have learned to make things bullet proof, but never tenant proof.ALAS......Part of the joy of Landlording is serving Warlord tenants, right?

So what is the downside if you are deferring taxes through your self-directed 401(k) that is later deemed to have engaged in a prohibited transaction because the owner was serving as trustee?

I would add that if you have no landlord experience whatsoever you might be better served be starting with a smaller property and work your way up to a foreclosure.You mention that the property is a foreclosure, but you didn't mention how many units are vacant.

Don I would love to hear you post more on this and how you did it.As for the rentals even in an "A" area you can have pockets of working class tenants in older buildings.Example: You have an "A" area where incomes are high and shops are fancy.The higher income homes have to have people work the lower paying jobs in the area to serve the higher income people.So you will have developments with older apartments where normal rent is 1,200 but these tenants pay 800 in older buildings to be in the area where they work but cannot afford to go to most of the places there.So an "A" location isn't a guarantee of not having any problems.Screening the tenant is critical.I find when you buy to calculate having the best product at the lowest to middle part of the rent range.This creates a ton of applicants and you can choose the best one able to put down the most security.If you have a good to so-so product trying to get higher rent because you purchased wrong then you will be in trouble because the only tenants wanting to pay higher rent for a mediocre product are generally professional tenants.I stay away from the war zones.

I did leave for a little while, served 6 years in the Navy and got to spend a couple of years in Italy and then 2 years in the Philippines back when Mount Pinatubo erupted.I'm married, have 3 boys and 1 daughter of my own.

Again, $400 rent, even on a $25k house is too low..taxes, cost of money, insurance and maint will eat it up and you're served nothing but an alligator....in my opinion.