Self-Directed IRA and Family

[James Letchford]

It's my understanding that someone can not use there self-directed IRA to benefit their direct family. In other words, I couldn't use my self-directed IRA to put a down-payment on a property that my brother will use for a flip or buy/hold.

Here's my question:  If my parents use their self-directed IRA to buy, rehab, and sell property, could they sell it to my business?  

My father would like to get into some self-directed IRA real estate investment but doesn't have the knowledge or desire to manage the projects.  I'd like to help him find and rehab the projects and then purchase the product at a mark-up that benefits he and I.

Is this possible?