First SDIRA purchase

[Ray K.]

So I finally have enough in my roth IRA to possibly get involved in a flip but wanted to run it by your pro's before talking to my CPA/attorney to see if this is kosher.

I have ~40k in my roth that I plan to roll over into Quests' SD IRA.

Ive identified a property with a purchase price of 80k. I have a partner (not in list of disqualified partners) who will go in for the other 50%  (40k) of the purchase price .

Since I don't have enough money in the SD IRA for expenditures/repairs, can I structure this so that my partner pays for the remaining 50% of the purchase price along with the repair costs (lets say $20k for simplicity) and ultimately split the proceeds according to costs? Meaning upon flipping, my SD IRA would get 40% of the sale and my partner would get 60%?