Roth IRA for Deal Assignments
I stumbled across what I believe to be a genius way of shielding active real estate income.
One can tie up a property for, let's say $1K. This $1K would come out of a Roth self directed IRA. Deal is assigned and Assignee makes a fee of $10K. All $11K goes back into the IRA tax free and is able to be withdrawn before the age of 59 1/2 with the standard 10% penalty.
What am I missing here? I've heard of others doing this; but this seems too good to be true.