Based on your description, it sounds like you would violate the self-dealing rule and could put your SDIRA at risk. 

Builder's Risk and General Liability should be a great starting point.

Diversification into multifamily also lowers risk compared to a single rental, as vacancies won’t affect your income as drastically.3.

Quote from @Rachel Weiss: in the case you are describing where you put money into an event, making a large amount of money seems to be appropriate given the risk you took with that 50k. 

Let's put this to math.

The real risks are to the seller..

Bathroom:Demo & Prep ($750):DIY toilet, vanity, and flooring removal.Professional plumber for plumbing adjustments.Toilet ($250):Standard, efficient model.Vanity & Sink ($900):A modest-sized vanity and sink combo.Flooring ($500):Wall Tile (Shower/Tub Area) ($1,000):Basic ceramic tile for the shower/tub surround.Shower/Bath Fixtures ($250):Update showerhead and faucet.Lighting & Paint ($250):DIY painting.Update light fixtures.Permits & Contingency ($3,000)Total rehab cost: $30,500Amount Needed: $30,500ROI: 45% of $30,500Investment Duration: 30days Profit: $13,725Total payout in 50days: $44,225EMD: The buyer has put down a 20% earnest money deposit based on the property’s ARV and they are all set to complete the purchase as soon as the rehab is done.To find out more about our Joint Venture projects, please visit our website: http://strandparkproperties.comWe're able to guarantee the return on investment (ROI) by finding buyers for the properties before listing them on our website for possible joint venture fix and flip.

I also have an investor putting some cash down who would prefer an inspection be done. 

Does it make it fool proof having a regular llc or a series llc hold the properties for a TN llcThe other question is - i have heard from a few just have a TN llc is a not sufficient enough as there is no charging order protection in TN so the recommend asset properties structure is -> put the TN properties into a TN llc and the create a holding llc in WY to hold the TN created llc Let me know if this is really needed??

Anyway, Peter is an authentic person that does care about his students and him and his team ensures that you make a good deal and not some half a%^ed one that puts your investors at risk.