Self Directed IRA Questions
My Dad is trying to buy raw land in Michigan by rolling over his traditional IRA to a Self Directed IRA. This is a long-term investment. I understand we cannot use this for personal use. I have a few questions that maybe the BP community can help with:
1) We want to build a pole barn on the property. Not for personal use. Simply to increase the resale value of the vacant land. Can we do this?
2) If we wanted to divide it up and sell the property in smaller parcels could we do that?
And one last side question unrelated to my situation...
Can I buy real estate that has a dwelling with the intentions of flipping the property to get a positive return using the money in the Self Directed IRA?
I understand this is a complicated transaction and I am in the process of talking with an accountant...any insight would be helpful. Thank you!