Private Money Structuring

[Account Closed]

I am looking into purchasing an REO, rehabbing it, and holding on to it as rental for a year or two and then selling. I plan on using private money for the deal, in this case a good friend of mine's self directed roth ira.
My question is how I go about structuring the loan? Ideally, I would like to borrow the purchase, rehab, and closing costs. Rent the property out and then cash out my investor in two years through a refi or sale. From my understaning, they don't really care about collecting the monthly income but would like to make a good return on their money upon sale/refi.
Can this be done with self directeds?