In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a specialty trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by your IRA.

In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a specialty trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by your IRA.

I have a few people in my network that would like to contribute cash for a % equity of the return on a flip/rental.

Hello BP Folks, I would like to thank you all for the contributions to the forums and community.

Typically, the sponsor of the deal will contribute equity, as will a number of limited partner investors.

foundations are a big deal, water flow anything that can contribute to sinking or a major issue down the road.

In Texas, we are prohibited from giving guaranties by our bar, but I would never even if it were not verboten.Big law, nation-wide firms, have nation-wide overhead that every billable hour must contribute towards. 

I'm looking forward to networking, building connections with the BP community, and helping to contribute whenever I can.- Kevin

I started a rule of making 2 forum contributions per day.

Unless you sold as yourself and bought as yourself and then contributed the property into the LLC in exchange for membership interest in the LLC.