This will give you the ability to hit the ground running from Day 1 being involved with transactions, how they work, etc. 

Of course there are a lot of factors, like: your systems in place, ability to purchase multiple properties fitting your established criteria, funds or loans available etc.  

It will definitely be an added expense that would come out of my commission in the end, but for families that are already struggling, that extra $250 after they have just gotten out from under a bad situation might be a big help (groceries, catch up on a bill, maybe do something fun to celebrate).  

It depends on the individual deal, the market you’re in, your experience, your ability to add sweat equity...

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.

With that being said, depending on the market and scope of work, a lender may be willing to stretch the parameters for you but they will want to see the team you have in place as well as some ability to debt service the loan.Now to your first sentence in your question, most hard money lenders will not extend you a loan if you are going to be living in the property. 

Also, your experience as a park operator will have significant impact on whether a loan is considered, as well as your ability to negotiate the terms of the loan.

To take my point even further, if the condo-supplied water simply isn't hot enough (let's say 110 degrees) then all the tankless needs to do is bump it up 10 or 20 degrees.

They don't typically look at you so much as they look at the deals ability to produce sufficient income for the debt service.

Hi y'all, My name is Hunter, I'm an architecture student at Virginia Tech pursuing a professional degree in architecture.