Thanks again to everyone who's already contributed.

It is designed for self-employed people and small business owners without full time employees and allow contributions up to $55,000 for 2018!

My theory was to get well performing REITs watch them grow with what funds I could contribute then when a substantial amount is accumulated use those funds to get a non recourse loan and have my IRA buy the rental.

Going forward change jobs, save money, get your wife contributing, pull your equity and invest to create more income.  

My realtor even told me that a few of her clients have made it to the 80% LTV and dropped their PMI even though they have barely contributed any cash.

I don't really care about my 401k because I don't contribute (right now, I probably will next year to offset income) so it is mostly employer money.

I appreciate your contributions here and if our paths cross, the first beer is on me.

Eg, if your basis was 100k in the partnership, but the property had the basis of 150k, the property will get a new basis of 100k when it gets to you. and vice versa)And when you contribute this property to you SMLLC, the new basis (100k)of the property transfers to LLC. 

And in the process I hope also to learn what I don't know about wholesaling.Perhaps with the collaboration of other BP members, we can make a significant contribution to the body of knowledge on both topics.BTW: I plan to maintain a blog here on BP that can serve as a centralized location for the knowledge that we develop.

@Amanda Sinclair I would say no equity and 10% of rents max to manage the property, without contributing any capital it seems unfair to me to expect any equity.