Syndicating, Marketing to Self Directed IRAs

[Chris Williams]

We just spent the majority of our capital on an apartment complex and are now starting to look at syndicating and raising funds from self-directed IRA's.

As I have been researching this, I have come across some information that in order to contribute to an IRA you need to make less than $135,000 if single and $199,000 if married.

In order to be an accredited investor, they need to have $200,000 in income if single or $300,000 if married.  I know that there are other ways to qualify as an accredited investor, including the $1 million net worth requirement.  

The gurus pitch the idea of sourcing funds from self-directed IRA holders and I would assume that most of them would not have a net worth of over $1 million.

Am I missing something or are most self-directed IRA holders not a viable option for investors?

Thanks for the input!