Real Estate Investor · Member since 2011 · 29 posts · 40 votes
Hey
I'm looking at buying a MFDU (Multi Family Dwelling unit), and trying to establish it as condo's so, i can buy some units iwth my Roth IRA and some with my own Cash.
I need a Tax Attorney to issue me a "Opinion Letter" so i'm not going to get killed.
anyone know a budget tax attorney?
In my experience, good ERISA attorneys are not cheap, but you get what you pay for. If you have a good bit of money at risk in your IRA, getting a determination letter from the IRS is a good idea if you have any concerns, but be prepared to wait 5 months or more before you get a letter issued, after you file the request.
Just my non-expert, non-legal opinion, of course...
I don't see how you are going to be able to treat a four-plex as condo's. It is not a condo. It has one legal description. Going thru zoning and converting to condo is very involved and can be a lenthy process (if you can do it at all). Why are you thinking that you can call it a condo?