You can rollover any other retirement plans you may have into it, with one exception: Roth IRA.It has been discussed at length many times here on the forum, here is a link to one of those discussions for you to learn:  https://www.biggerpockets.com/blogs/2810/21298-sol...There are several experienced professionals including myself that you can find who are active forum contributors, check out responses and see whom you wish to contact to discuss your situation in details. 

@Sterling, sent you an invitation and some more details.

You definitely should add an attorney to your team and speak with him/her about that in more detail from a legal aspect.From a tax standpoint, an LLC doesn't really do anything for you - your share of income/losses is passed through to you and reported on your individual tax return.If you have any other tax questions, happy to help.

Sure Chicago has a reputation and each neighborhood has a reputation but that is still not detailed enough to make a decision about whether a property is desirable or not..

Give us a few more details and we'll be happy to point you in the right direction :-)

Some of the reports are a short tax assessment and others with a much more detailed description of property, several years of sale history, tax appraisal history, sketches of square footage, road conditions, a current picture, owner history, and comments made by last assessor.

BiggerPocket's "The Book on Managing Rental Properties" goes into significant detail on the screening process.

I won’t go into all the details of that deal but after 2 years of hard work I finished the shell I bought that I called a flip.  

Has anyone done this before if so can you tell details on how it worked, how much your profits were, what is the risk factor, and how long did it take.

He said just having that option contract makes evictions more difficult, and that I will be challenged to return the option fee.Do you mind sharing some details on evictions you've done where you had a lease option?