Existing units will theoretically suffer because the tenants may ask "why should I pay you $x when I can go live in that nicer place for basically the same amount of money?" 

Best of luck on the next project!

Do you want a few very quick small projects, or willing to go a bit bigger and out it all into 1 deal?

You're probably looking at a pretty major project. 

Great opportunity to have more cash in hand and invest in bigger projects but is there a formula to follow?

My areas of experience include: Historic tax creditsHistoric renovationPermitting, building code, etc.Finance, funding projects, bank loansFundraising, structuring projectsProperty management and maintenance (using technology)Urban developmentFeel free to connect with me directly if I can help you!

Let others run the risk of a PT by managing their IRA's properties, rehab projects, or "checkbook" LLC's until we get clear guidance.But as to providing your IRA a benefit.....if that were a PT, then there would be no excess-contribution statute (IRC 4973) and no excess-contribution case law (such as Summa Holdings).   

I would, however, say it's best to understand some of the basics before jumping into this.

Basically, if your credit is good, go Conventional.  

Well here's an old article but it gives the basics of investing remotely-https://www.biggerpockets.com/renewsblog/2012/12/2...The biggest thing is to know what end of the spectrum you're going in on... turnkey on one side all the way to full-out rehabbing on the other side, and everything in between.Let me know if that article strikes up any questions or helps at all.