Nicer houses I fix and flip.YUP prepping these documents is super simple.. the legal descriptions dont change its just copy and paste from the last recorded deed and inject the sellers name as the person or entity on title and the buyer whatever entity you want to buy in.in my foreclosure rescue days ( when it was legal in OR and WA ) ALL of our deals were done within 48 hours of the foreclosure sale ( seller most motivated and no competition from those who dont know how to do these deals this way which is 99% of investors)  We typed our own Deeds got the seller to a notary or mobile Notary had my secretary run the deed to the court house and record it  DONE.. in the mean time i had a courier service running the Cashiers check to redeem the property to the foreclosure attorney DONE.. knowing how to do your own title and escrow is were the money is for those who want to take just a little more effort and not think they need attornies and escrow companies to do real estate transactions. 

Many people find that they are already good at something and use that income to inject into the deals of others... 

The bottom line though is you'll likely need more equity capital injected into the project to make the deals in this day and age cash flow positively. 

How much cash have you injected into the deal at this point?

I've injected 10k cash into the house to update everything (the prior owner rented it out for a decade and had a lot of deferred maintenance and tenant damage).

All my prior deals with others have been 50-50 on money injected and liabilities assumed.

On the real estate investment side, we are using some shorter-term leverage and injecting cash into flips and shorter-term holds, but we're not maxing out what we can borrow.

Both of those options puts you in a better situation financially and leverage wise than total cash injection into one rental.Kind of like the saying "Do not keep all your eggs in one basket" is one way to think about the risk/reward.

I think I mostly appreciate your point about letting the property gain equity organically over time to refinance without additional cash injection on my end.

I don't really think it's a ton different than other types of RE Investing, but you can't get a personal benefit from the property, you can't comingle personal and IRA funds, you can't use personal funds on the property and vice versa, you can't use recourse financing, etc, but it really does allow for other sources of capital to inject into deals.