@Connor Johnstone Using Dave Ramsey's concept of money management, you either have an issue with the inflow (you income) or the outflow (your expense).

That's not to be evasive, but as @George Fitz said above, Self Storage runs the gamut of options with the common denominator being you (the owner) rented space for people to store their treasures (and even this can be household items, boats, RV's, commercial, etc.)The three questions that we typically ask others (and ourselves to) when they're contemplating buying a Facility is the following:1) Why are you excited about this deal? 

I have a general concept but can anyone go into more depth about it?

I know we can pool these funds together to create an LLC, and I understand the arm's-length concept.

Perhaps I am not entirely understanding the concept, but as I read it, it is continually cash-out refi'ing rentals to buy new rentals as the equity builds... repeat repeat.

"(31) 'Mortgage loan' means a loan made to a natural person primarily for personal, family, or household use, primarily secured by a mortgage, deed of trust, or other security interest on residential real property ...

They do not need to be educated on the concept, as is generally the case with your local bank.

I think I have found a potential property but being the sole income in a 4 person household I can’t (won’t) put up my current savings as a down payment.

To me, I really enjoy being able to use both side of my brain: the left to do the deal, the right to design the rehab or design a real estate concept, being creative.  

The IRA should still very much see the benefits of leverage and a higher cash-on-cash return.So, if the deal is 70% debt-financed and the IRA is a 50/50 partner, then 70% of the IRA's 50% cut of income (and deductions) will be considered relative to UDFI.Get with your CPA to dive into the details and understand what recordkeeping and filing requirements your IRA will have.The concept of such a deal works.