With all due respect to your relative....we have all made a mistake with a property manager.

Saves 20/mo2) You had 165/mo for PM fees so that saves 165/mo.3) Using your relative for repairs should save you some in maintenance as well.

This loan will show up on your credit report, and you better hope your relative was not late on those mortgage payments.Assuming all other factors are good, then it is possible.Terry

My advice is find a large brokerage that can afford to have a good training program for new agents, smaller ones usually don't hire trainers specific for training, they usually have agents who also try to do business and they often partner up having you split commissions.Split commission deals are common for new agents, just don't use your relatives and friends, sandbag those deals if you have them.Congrats on passing the exam, now you need training in reality!

I would suggest to have an agent represent you but only if it is a very good friend of yours or if your related to the agent!

I would recommend getting more established investing before doing partnerships with your relatives money. 

If a family member puts a lien on the house using his self-directed IRA, depending on your relation to the family member, it might be an outright prohibited transaction for you to pay interest, or for them to sell you the property.

Back to your question, my advice is to not "ask for money" but offer your relative an investment option pointing out the benefits.

Could be a tax issue for your relative since the IRS could consider it a gift and you might have to pick up the interest as income.

No need to spill the beans if it's a secret investment strategy or if your relatives are still in the dark.