These costs are so high, and time consuming, that the vast majority of people that would like to do these small developments on 1-4 units, can't make the numbers work.

Business plans with certain arms of AHP haven't worked out.

Payments are then split proportionally and deposited directly into each IRA.Tax Implications: Income earned (interest) is tax-deferred or tax-free depending on whether the SDIRA is traditional or Roth.

I would advise caution, small markets that vastly outperform attract people and the market due to its size quickly saturates and goes to crap. 

I do a ton of real small balance stuff 20 to 50k.. those are where the money are ..  

I am not skiptracing owners and having VAs call and direct mailers, etc. 

The most common are 1) it’s currently and forever illegal for you to rent it out to two unrelated parties and have two addresses. 2) it’s illegal to do that unless you do “x” (pay the city, add a seperate entrance, whatever. 3) it wouldn’t be legal to be a duplex today but it has been and there fore is “grandfathered” in. 1 is a big deal, 2 is a small deal, and 3 is nothing, a non-issue. 

So two red-flags and an easy "no" for me (but for someone else, these issues will be fine).Also I generally am not a fan of nonaccredited offerings in generally (because they're typically more expensive, have less coinvestment, very convoluted to get your arms around the over-lawyered disclosures etc.)

Or you could go the opposite direction and sell several smaller properties and buy larger ones.

It seems small-patato.