Private money through IRA...Please help!

Hey! So I’m thinking of getting private money through my parent’s IRA. My plan is to create an entity and purchase a junker to rehab. 100% financed through their IRA. The only catch is I was planning on living in the property then having the entity sell it to me. I would use a conventional loan to purchase it from the entity. A loan big enough to pay back the whole amount plus a gain for my parents. The issue I’m running into is I read somewhere that an IRA can not be used to sell a property to a family member. How would I get around this clause? Please help. I was planning on purchasing a property within the next couple weeks to live in, but then I ran into this road block! Am I really not going to be able to purchase this rehabbed property from the created entity?

Also, I was planning on living in the property for about 2 years before getting a conventional loan to purchase the property from the entity. Would I be required to pay some sort of rent? Could I put in a contract that I will not pay anything until the property is sold. I am planning on promising 15% return per year. Basically I would get a conventional loan for the loan amount + 15% for each year.

Someone please help! I had planned to purchase a property asap!

find someone else with an IRA