Follow the local laws on documenting the security deposit timely though.You are in a better position than them to take the financial loss and the good karma will come back to you.

Given that I would pay 3/4 of the property's assessed value I think this could be a great opportunity.

I wish you all the best.  

That reigns true in real estate as well.A list of the top countries searching for South Florida real estate was published and to no one's surprise, 4 countries were Spanish speakers.

Now what I see is the next step would be select the market.

The word "average" says it all. 

Can you provide some of the pros and cons for the 6-10 bed facilities ?

The problem: I pay more in expenses than I make in rental income.Solution Step 1: Hire a tax attorney and argue the taxes.

I have gotten a lot out of listening to the podcasts while I drive, and then I often order the business or real estate book that the guests recommend. 

@Jorge Caceres,It might be possible to take the title as tenants in common (TIC), but since the disqualified person is now involved in the same transaction with the IRA, this would create a possibility of a prohibited transaction, if not now, then in the future (you don't know what you don't know and what might happen).