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5'1. Jc-e Bacillus owns Bacillus's Italian Restaurant. A friend 1:1prer when owns a spprts bar comes to Joe and wants to form a partnership 1with
5'1. Jc-e Bacillus owns Bacillus's Italian Restaurant. A friend 1:1prer when owns a spprts bar comes to Joe and wants to form a partnership 1with June to hm; an old building, re ncw'ate it, and men mcwe both the restaurant and the sports bar into it along with ether tenants. Joe would like to make this investment. He needs ap prcunrimatelyr DDGD fpr his share of the buy-in of the partnership that will purchase, renovate, and manage the buiFding. Because of other recent large expenses, hcmrever, .ioe nds himself short of cash at the present time- His only:r large liquid asset is his self-directed IRA, which currently-r owns $221003 in stock and bonds. Jpe proposes that he direct the IRA to self securities and to- use the proceeds to invest in the building renovation partnership. Conduct appropriate research [including an online search] to determine if Joe's plan is workable. Prepare [in good form} a research memorandum to- the le
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