CPA Tom Wheelwright in his book Tax Free Wealth shows why it can be a really bad idea to invest in real estate through a Self-Directed IRA.In many states, if you are married, you can have a lawyer draw up a QDRO and transfer any portion your 401(k) to your spouse, after which it can be withdrawn and avoid the 10% penalty.  

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.

Avoid creating one from scratch unless you have legal expertise, an improperly written contract can expose you to serious legal and financial risk.

A question that we get:"Does the IRS require site visits for cost segregation studies?"

Father says this has happened twice before at different apartments, both ending in eviction, which he wants to avoid. 

I would avoid property with foundation issues 

 Their requirements are a window and a closet and at least 70sf. 

In California, a tenant on a month-to-month agreement is generally required to give at least 30 days’ written notice.

Is this requirement represented in your lease?

Pros - can find dealscons - can lose big money if overpay while lower cost to acquire typically they require significant renovation costs