Is there any way to legally move money, say purchase more parks and avoid paying taxes on the cash flow income from existing parks?
Also, I’m toying with the idea of liquidating my 401k to fund the next down payment on a park. If the stock market rises enough to cover the withdrawal penalty and some of the tax burden from the gains, is that a viable idea? I have zero faith in my 401k. That and don’t expect ( highly likely) to live to retirement age.
If you can,you need to transfer your money from your 401k and put it in a Self Directed IRA. Once it"s in a SDIRA you can purchase things like real estate, and especially Mobile Home Parks (Tax Free). Better yet ,once it"s inside the SDIRA you can invest your money with professionals who operate Mobile Home Parks and you do not have to do anything.
Believe me I had stock my whole life and always felt like I was playing a glorified casino. They always talked about the really nice 2.2 dividend yield we had. I am doing a ton better than that investing in MHPs.