I would be interested in feedback of our plan with our SMSF and if anyone has done this yet. We currently have a SMSF with the $$ in a unit trust (managed) - so we are paying fees - then also having to pay to audit the fund I have looked into the bare trust scenario to purchase property- but it is still very complicated and access to funds not a clear cut process. What we are endeavouring to do is set up a "tenants in Common" arrangement. We have already an agreed amount that we can borrow from our bank and after 30th June (when the property market settles) we are looking to purchase - probably a home unit. It will be divided so that the (say 40%) the SMSF has invested - then these %ages will be across all incomes derived and expenses. It seems fairly logical - but I am sure that there will be minefields associated with this and would value any info on this topic.