Without a doubt doing this activity inside an IRA will trigger UBIT.  

I'm currently doing interior design/furniture rehabbing, but am getting ready to pull the trigger on my first flip.

i would love to bounce ideas off eachother as it will help with my decision making being new to this game i am learning something new everyday and it seems hard to pull the trigger when important information on the subject continues to pop up.

The weirdest thing we saw was a long red hair wig hanging from the shower stall.  

I think a hair over $300k would be closer to reality in the end.What are some gut reactions to the numbers?

Home equity loans are designed for Harry Homeowner to fix the kitchen for momma, not really as a commercial venture that carries long term needs.Read the fine print too, HELOC can be called under many events, your credit standing could trigger changes, it's not a product you can really trust long term.Search the topic too, much has been posted about your ideas. :) 

If not, calculate what it is going to cost you to pull the trigger on this deal now instead of waiting.  

Then pull the trigger.

I guess I should have been more specific in my post, I've been on the fence with rei since 2004 so I'm not really that new to the game just haven't pulled the trigger yet hence my post on looking for a mentor. 

Such as, “Find addresses for all the little old blue-hair ladies in Arkansas.”2.Perform the task yourself, preserving each step, each link, each phone number (although, I have yet to ask VA’s to use phones.)