A lot of trust in my friends trust of this wholesaler.

A lot of trust in my friends trust of this wholesaler.

So i'm 24, currently looking to purchase my first rental property - a SFH 3br, 1-2bathrooms, sub 200K, but i've been hesitant to purchase because i don't yet trust myself, and a bit of fear, since obviously it's my first.

•Banning ownership of your IRA of more then 10% of ANYTHINGoIf you wanted to own a rental house in your IRA, only the IRA itself could own it; you wouldn’t be able to use the statutory protection of an LLC.oNo more use of Land Trust or PPToNo more Checkbook IRAsoNo more Joint Ventures in which your IRA owns 10% of a deal or an entity•A proposed limit on Roth ConversionoOnly Pre-Tax traditional accounts may be converted to a Roth IRAoFor you business owners, this will effectively mean that only your Employee Elective deferrals ($19,500 in 2021) and Pre-Tax Employer matching will be eligible for Roth Conversions.

Sure, I might not have great cash flow but I trust them with my life and know that they are going to be good learning tenant How did you find this deal and how did you negotiate it?

@Laurence K.Who settled (funded) the trust?

I think after each of our interactions, I gained their trust as a landlord so they were happy to work out an agreement.

You have to give up some "control" and trust that they know what they're doing, including doing things differently than what you would do.

@Elijah Crew With a true private lender (friends family and associates that know and trust you), it is possible, but still rare, to do 100 % financing.More realistically you put some money in at the beginning.

Depends where the money is but I'd be inclined to just invest in your personal name or a trust (I would not set up one just for this purpose).