This is an IRA, just like any other self-directed IRA; however, it allows you to connect your IRA to the following: 1) You can use a checkbook IRA LLC type structure, for example, if you are purchasing individual rental homes, or an occasional fix-and-flip.

A few things to keep in mind:Section 8 requires the property to pass an inspection based on HUD’s Housing Quality Standards (basically making sure it’s safe and well-maintained).The rent you charge has to align with Fair Market Rents (FMRs) in your area, so it’s good to check what similar properties are renting for.You’ll still be responsible for maintaining the property, but the upside is that a chunk of the rent is guaranteed by the government, which can provide steady income.Check with the local housing authority about any specifics for your area—every jurisdiction does things a little differently.This could be a great niche if you can find a good deal on the land and make sure your expenses (like maintenance, insurance, and occasional vacancies) are covered by the rental income.

I also enjoy the occasional debate.

Ideally, I’d have an Airbnb down there (for occasional personal use) but have received some feedback that an out-of-state Airbnb would be too difficult to manage.

I run a company called GoliathData and we specialize in finding people looking to sell and occasionally act like a wholesaler.

For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.

Many small businesses that are home based need a business mailing address and the use of meeting space and an occasional office. 

If someone came along from the county and demanded we cease, we would, though it's not likely when there's an occasional RVer or tent camper.  

Quote from @Jason Bohling: @Saad D. never paid attention to the 1% Rule, and while some people in some markets can occasionally find a deal that it will apply to, it isn’t feasible in most situations.

Haven't seen a whole lot of people renting out detached storage units in Memphis but occasionally it does happen.