Question: Thinking that I need to buy a rental to off set the income I’ve made this year. I was thinking to buy cash my rental, fix property and take out a loan against the property. Would this help me for tax purposes? Any ideas how this would be structed? I was thinking to do this with a self directed IRA?
Jim Ingersoll: Yes, the depreciation and tax benefits will definitely help you regardless of your financing strategy. Rocky Vasquez: It’s my understanding that if funded with an IRA it must be an “arms-length” transaction. Rich Urban: Rental property will get you some tax breaks. Doing it within an IRA will not help though. Jason Bhattacharya: …