How do I pay real estate expenses (such as taxes, insurance, etc.)?
All expenses associated with your IRA investment must be paid for with IRA funds.
You will instruct Madison Trust Company to pay expenses by completing an Expense Payment Request Form. You will attach a bill or invoice to ensure that the payment is delivered to the appropriate address. To protect your account from fraud, Madison will process the request after receiving verbal confirmation from you.
Alternatively, the IRA LLC can retain the services of a management company to manage the property, pay expenses and receive property income.