I initially started investing as a passive investors with experienced operators through syndication model and eventually built a business around that that allows me to keep my "not operator level active but not Limited Partner level passive" status, which was my goal.To learn about how commercial lending works I would recommend you listen to Old Capital Podcast.I'd be more than happy to chat further and go into further details about commercial real estate investing if you are interested.

You need to understand they have models that can predict the risk down to zipcode/census tract. they need to reduce their loses with risky areas that have high property crime rates.

There are two business models in the self directed IRA realm.Custodians, who will have the word trust in their name are processors and recordkeepers.  

I have not seen prices inflated just to secure higher comps & given the expertise of most appraisers it doesn't make sense.

I can explain much about either one, but the business models are so different that I have place to start or a day to begin.

Expertise..were all shaped different because we bring our experiences to the table..Lots of similarities in the business but different4.  

I'd invite you to check out this model that I built (which can be downloaded for free from the fileplace) and put input the assumptions that best match your local market.  

It sounds like a situation that requires professional expertise.

We do both - New construction is a value creation model.

In real estate, local knowledge plus expertise in specific property types is your competitive advantage.