Quote from @Jeff Sanders: Personally coming from an agent/investor in CA, I always get a quote from a broker of mine and make sure I am knowledgeable with the fees/costs.

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.

I started my jouney here in 2011 and I am still learning everyday - especially from others on this forum.My personal portfolio is located within Stamford and Bridgeport.

He is currently a travel PT that makes $37k pre-taxed but after including all his stipends, his annual earnings are  closer to $95k-$97k.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

I like to believe I earned their trust for when I need to borrow from them again.

Personally I would pass but if you go forward I would do a lot of research on the group you are renting to and get a very large security deposit to cover damage. 

Could it be considered piercing the corporate veil if the mortgage for the property is in your personal name but the deed is in the name of the LLC? 

Attend in person, bid, if you win you have to pay right then via a cashiers check.