However, there are some Red flags in the listing, it says it can be a duplex, which means it does not have 2 units on the property and the house can be added to to make it a duplex. plus it also says the buyer is responsible for certification and repairs, it may need more repairs then what is in the pictures plus again that seems to mean that the units are not safe to rent and not legal to rent and will have to be certified as such.

I think it's a good practice to check on tenants after a storm or inclement weather to make sure they are "safe" and don't have any issues with the property.

You provide safe, clean, affordable housing for those who need it.

Capital gains are for an asset that you intend to buy and hold, not fix and flip or even build from the ground up.The IRS says this:The following transactions result in gain or loss subject to section 1231 treatment.

Welcome to the site Thanh.Your 1st step would be a sales license.Prior to obtaining a brokers license you would need to be licensed for at least 2 years and perform 40 transaction sides as well as complete 2 years of college with some specific business courses included in the 2 years of college.

Otherwise, we are ok selling the land back as we got it about 150K below market value due to it being an off-market transaction.

I worked on a transaction in Phoenix, Arizona with two awesome real estate agents.

It is a prohibited transaction to have any sale, exchange or lease of assets between yourself personally and/or any disqualified parties and your IRA. 

But ultimately you should plan on paying them to be safe because if your winning bid didn't cover them than someone is going to be responsible for paying them and that someone is likely you as the new owner.

if you have interest in the Michigan housing market, specifically Ingham, Livingston, or Shiawassee County, please do not hesitate to contact me   I can be your "boots on the ground" and make your new investment happen from a distance with ease and confidence in your transaction.