They are notorious for sending out teaser bids when the actual reserve is significantly higher.We did all our own title searches - just got to be too expensive with all the houses coming to auction. 

Also for rehabs, what software do you use to track expenses related to type of work completed (electrical, plumbing, etc), and what features have been important to you in your business to analyze historical expenses on rehabs?

On the surface, it looks like a great deal, but I would dig a little deeper.Personally, I don't like a 50% estimate for expenses. 

Also, moving a mobile home can be expensive ($3k) or a total loss if an older one breaks up during the move.  

So, if your Self Directed IRA is 75% partner with another entity, then it must collect 75% of the profit (rental income, sold gains, etc), it must also contribute 75% of the expenses (rehab, insurance, taxes, etc).I am not sure about loaning to a partner. 

You will spend around half of your rental income on the maintenance, taxes and operating expenses of the property.

What would be the best percentage to use when analyzing income,expense,prop value increase? 

He told me that we can't do that and that it is a partnership.In looking at the IRS definitions it states:PartnershipA partnership is the relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property, labor, or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement is made.The term "partnership" includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on, that is not, within the meaning of the regulations under section 7701, a corporation, trust, estate, or sole proprietorship.A joint undertaking merely to share expenses is not a partnership.

If it is saving you 5% on your mortgage interest you are at a negative income of $737/month before any expenses on the property.

How much do you expect to go towards expenses of an old home?