I was in your shoes until my wife fell in love with our current home.

During the summer of 2015 I made the decision to leave my teaching job and focus solely on my sister and I's restaurant as well as I started expanding my own real estate business.

Our tax situation is pretty standard, but in addition to a W-2 from my husband's employer, we own two small "businesses" - a freelance company and a real estate company (both are sole proprietorships).

If I was in your shoes, I don't know if I'd buy it seller financed, like you have arranged.

Then form a PA LLC with WY/NV LLC as the sole member.

I am learning on the job and have big shoes to fill though no one expects anything of me.While all of this is going on, I wanted to pursue a redevelopment project in NY but am headed in butt first as I have never done this before. 

If you owned the properties via an LLC (i.e. new LLC of which the sole member is your IRA), I suspect that you may not run into as many roadblocks since the title, insurance, etc would all be in the name of the LLC.  2. 

This is in reference to rentals that you dont live in.Rental income from a property you live in is another story and calculated completely different than a rental property that is operated solely as a rental property.Rental income from a primary residence can only be used when you have 2 or more legal units like a duplex, triplex, or fourplex (unless you have a disabled caretaker who takes care of you).

It might take a while to try on shoes or pants to find the perfect pair. 

If I'm in the sellers shoes the "verbal acceptance" means nothing until the contract is signed/e-signed and in my hands.