Flipping using joint venture partners4.

If the IRA were to joint venture on a deal with someone who is not a disqualified party, the IRA would receive its overall percentage of income, costs and taxation and the partner would separately have their own portion they would treat appropriately - whether also in an IRA or personal.  

Be sure to consult with an experienced CPA about tax consequences before venturing out into flipping in your retirement account, this might create a complexity that you want to avoid.

Going on this venture is scary for me, exciting at the very same.

Just looking to further venture out in other states for multi family investing.

I think I will cool my heels just a bit, focus on becoming a great agent, and then venture out as I increase my knowledge!  

I know his background and am thinking this could be a nice joint venture in the future. 

I'm in the planning stage of my real estate venture and I'm looking at having a business partner.

You should get a least 10k down and can charge higher than monthly rents and an option price that's a bit above market value if you do it properly..... as long as you don't mind keeping the mortgage in your name while you pursue other ventures.

You could also joint venture with someone experienced as the money partner and learn the ropes that way by making an investment and following along as opposed to taking on a whole project by yourself the first time and all the inevitable pitfalls that come with it.