Sarah H. asked

⚖️  Law

Thinking about purchasing two lots to build mobile homes to rent individually to my brother-in-law and sister. The source of funding would be from a self-managed IRA (via third party administrator). Is this allowed given that the tenants are relatives? What are typical charges incurred by the owner? HOA, Property Taxes, and Insurance? Assuming each unit will cost $120,000 (all cash purchase) for land and manufactured home, what price range would the landlord/owner insurance premium be?

July 3rd, 2024

Justin J. answered

Unfortunately, the answer is no. This scenario falls under self-dealing, which is not allowed. Furth...

July 3rd, 2024

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