I have a small mobile home park east of Houston. I’m wondering if anyone knows a way to use an IRA to buy homes for one’s park. I was told by a self-directed IRA company, that if I bought homes to sell or rent, I couldn’t put them in a park that I own because it’s considered “self-dealing”.
Does anyone know a way around this or a way to structure things so that it could be possible. We manage the park as an LLP, if that helps. But my brother and I both own 50% of the LLP and the park/land.