SEPP from IRA with real estate

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L1: SEPP from IRA with real estateI have a Roth IRA that only owns income-producing real estate and am considering a new SEPP. To determine the value of the IRA, would I need appraisals for each property, or would something less expensive suffice?
Also, the three payment calculation methods basically assume an end value of zero. But with the rental income, the income stream would essentially be a perpetuity without depleting the original value. Is there a PLR that addresses a similar situation, or are there any other options to base the payments on the rental income stream rather than the three states methods? The payments would be about double.
Date of birth is 5/69 and first distribution would probably be within next few months.
2016-11-10 23:17, By: Comarley, IP: []

L2: SEPP from IRA with real estateBe careful. How are you going to make the required annual distribution for the next 12 years if there is a vacancy of just a few months at any time ? At some time in this period it may be vacant while you upgrade the property.
If you have rental real estate in a non-SEPP IRA, you have to get appraisals as of 12/31 every year after 70 1/2 because the RMD’s are always based upon 12/31 valuations then.2016-11-11 00:52, By: dlzallestaxes, IP: []

L3: SEPP from IRA with real estateThey are apartment buildings, not single-family homes, so a vacancy here and there doesn’t hurt. Also, I’d factor in a vacancy/credit loss rate as well as replacement reserves. And I sure hope I don’t still own them at 70.5! :-)2016-11-11 01:04, By: Comarley, IP: []