Any Self-Directed IRAs Horror Stories?

[Kyle Wilson]

Does anyone have a Self-Directed IRA horror story they would like to share?

I attended a national REIA meeting last night on Self-Directed IRAs (presented by Equity Trust). I can definitely see all the PROS, but I'm looking to see what the CONS are. Last night I learned the basic benefits, how to do it correctly and what not to do. I read several articles about it on BP, but I haven't come across any real-life horror stories. What's the worst thing that can happen if you do it wrong?