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Using a self-directed IRA to buy vacation condo, rent it out to an LLC for $1
Self directed IRAs have rules to prevent self-dealing of this sort called "prohibited transactions". You can't buy or sell or lease assets or obtain services from anyone closely linked to you or any beneficiaries of the IRA. You can't loan yourself money from the IRA, and you can't deliberately take the proceeds that should be going to your self directed IRA and give them to another account that you own.