Remember this, your net worth is equal to your network, so giving here creates a larger network which can easily result in a larger net worth.

A self directed IRA only changes how you can invest with an IRA, but the underlying fundamentals of the IRA being a tax-sheltered RETIREMENT savings plan are not changed in any way.There are methodologies such as a Substantially Equal Periodic Payment (SEPP) whereby you can begin taking distributions from an IRA prior to age 59 1/2 without the 10% penalty, but this is complex.Your question is best addressed to a CPA or CFP who can discuss your current income needs, earnings, age, and retirement income needs.  

By the time the investor sells this for $385K, he will get the following:Sales price - $385Kless RE Commission (6%) ($23,100)less Closing cost to buy ($3,500)less closing cost to sell ($4,000)less acquisition ($300K)less repairs (I am assuming based on what you said that this house probably needs $30K in updates)less holding costs (taxes, insurance, utilities while property is vacant and for sale)let's assume $300/mo on taxes, $100/mo on insurance and $100/mo on utilities EQUALS $500/mo and assume 6 months for the property to sell so holding cost equals $3,000)equals PROFIT OF $21,400Investment = Acquisition + repairs + closing cost to buy + holding costInvestment = $336,500Return on Investment = 6.4%No one will want to make such a paltry return ($21K) given that they are risking over $300K.But in my podcast - Biggerpockets.com/show65, I showed how you can get a deal even if you pay 93% of market value.

You'll be in a much better position to select good mentors as well.As to education, most here don't have a clue, as they say select your niche.....well, you can't select the best niche based solely on your circumstances, what to do has to do with the market, what opportunities exist in your area, all opportunities are not equal.

So 23400-16173.36-4440-7500= -4713/year equaling =393/month out of your pocket for expenses. of course your tax benefits are not included, also not factored in is the 50% rule (which would leave you with $975 out of pocket). 90% vacancy not factored.  

Be sure to get a few different bids that include the design, and construction of the project, and that what is being bid is of equal quality, size, etc. so that you're comparing apples to apples. 

You can use private systems as mentioned but like was said the tenants fight on the bills claiming it is not correct and the meter is not working properly or that the distribution of the water bill isn't equal to what they are using.This is why just for me based on past experience if I ever bought a large apartment again it has to be all utility separate from the utility company.

You must reinvest all cash proceeds from the sale, and purchase a new property or properties of equal or greater value, in order to avoid taxation on the gains. 

The banks will start to require additional things from you, including that your personal net worth or the combined net worth of the partnership group is equal to or greater than the size of the loan on the property.  

Hello,A family member has a somewhat 'unique' situation coming up dealing with an estate and I thought I would jump in here to help them get some advice.Situation is this; they (family member) are one of three siblings who all were given equal shares of a paid in full home when the last parent passed away.