If you choose to do a conversion of tax-deferred to Roth status, you could do so over time.In the IRA realm, having two different sets of funds will be potentially problematic, as they will need to be held in separate IRA accounts.A checkbook IRA would be optimal, but creating a partnership entity between tax-deferred and Roth IRA's is limiting as you can no longer add funds in the future, will be required to file a partnership return for the entity, and would not be able to do future conversions from tax-deferred to Roth inside the single vehicle. 

Account ClosedSince the parties to the agreement are changing, I don't think an addendum to the existing lease is the proper vehicle.

Jordan Moorhead it can be done if you want the real estate to be a retirement income vehicle, but be aware that you may be limiting the returns on the real estate.

We were renting out our house, living in the in-laws’ basement, experiencing medical and other hardships, and had $65K of debt (medical, consumer, vehicle, college, etc.).

I think of it as another investment vehicle where I can take out funds during different stage of my life.  

To my understanding, in previous years Section 179 only applied to 5 YR and 7 YR Personal Property; which includes vehicles, computers, peripheral equipment for 5 YR and furniture & fixtures, machinery, and equipment for 7 YR. 

I contacted the owner and he seems unable or unwilling to get his vehicle.

These issues lean more toward the lower income spectrum but can be important to the lower moderate range as they may have vehicle issues.Price and rents; What is your target market?

Today’s investors are adding more and more investment vehicles to their portfolios.

Fixing and flipping houses is one of the highest risk investment activities in all of financial vehicles.