Posted by Ernest Tew on February 28, 2002 at 04:54:46:
Rick, you might find that a 13 space park wouldn’t be very economical when you have to drive six hours each time you visit. It is too small to support a capable manager and the time and cost of doing it yourself might be too much.
Why not consider a larger park and, if needed, get one or two other people to invest in it with you? It would be even better if one of the investors has park experience.
Ideally, you might get the other people to buy the park and net lease it to you with an option to buy. If the option is held in a Roth IRA, all the gain would be tax-free when you resell.
If you would like to have my article which explains the Roth IRA, send me an e-mail.