As you might imagine, the FDIC wants to limit the amount of time they are doing loan servicing and must require that the loan buyer to show the ability to properly handle the customer service aspects involved.We have purchased our pools through online "bidding platforms" such as DebtX, First Financial Network and Mission Capital; these are the approved auctioneers for the FDIC.

I do realize if they were to do that they're essentially admitting working without being licensed but didn't know for sure on the ability to place the lien without being licensed. 

In my option - investing in real estate is an art, an art of knowing values, your seller's dominate selling motive and the ability to build a proposal that will lead to a conclusion of an equity position that will produce cash profits without obligation.I am not selling my skinny contract - but will consult with you for no fee.Charles

If you know real estate, this ability to invest in what you know can produce superior results as compared to leaving your IRA tied exclusively to Wall St.

Now I got a bunch of Excel analyses which were imported into Quick Books and a bill for $2400.

@Daniel Dietz are you saying that you use personal Hope Depot credit card to purchase supplies for properties owned by your SD IRA and then when you get a bill from the credit card you pay the portion of the bill from your IRA LLC?

My ability to estimate rehab costs at this point is non-existent.

I reached out to someone on their team on 7/23 to inquire about their ability to appraise, underwrite and approve a loan for 8/7. 

@Sameet KoppikarWith funds in an IRA, you simply want to evaluate the risk/reward of any particular asset as compared to other assets.Notes are relatively low risk, require little interaction on your part, and produce consistent income.Real estate is more work, and has increased risk such as tenant & contractor interactions.What real estate offers that notes do not are the ability to use leverage such as a mortgage and the potential for appreciation in addition to cash flow.There is no one answer as to which asset class is superior.  

But if I call her or email her a question, I don't get a bill for the answer.