Newsflash: Question about buying a rental property from my father. (Tax Question in California)

My father bought a rental property in a self directed IRA for $77,000, 7 years ago. It’s currently worth about $200,000.He owes me $100,000 and wants to transfer me the house, and have me buy it from him for $100,000. Since it’s worth $200,000, he’d be paying me back the other 100k with the equity in the house.We live in CA – can someone tell me if there’s any tax consequences or the smartest way to go about this? He’s retired and so his tax bracket is lower than me.Thank you!!

Read more at https://www.reddit.com/r/RealEstate/comments/6pdmip/question_about_buying_a_rental_property_from_my/?utm_source=ifttt

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