Custodians do not directly create such programs, as they are prohibited from providing legal and advisory services, so a different type of company will setup such a structure and most such companies have one or more custodians they work with on that piece.The IRA LLC structure is much more responsive and eliminates a lot of per-transaction fees, though of course creating the legal entity in the first place will cost more up front.  

In regulatory law definitions can originate from other sources so consider this:Under current federal law, there is a prohibition against overcharging consumers for goods and services (other than professional services).

This is not possible with a land-sale contract and is therefore a prohibited means of acquiring property.

I'm not an expert, but the lease probably prohibits subletting rooms to tenants while you are leasing it.

I'd consider it a safe investment, if you can afford to hold for a while.That being said, your buy-in will be significantly (prohibitively) higher than most places in the US.

I currently live and work 9-5 in Manhattan, where the cost of purchasing any home nearby is quite prohibitive.

MN may have a prohibition but not from anything I can see.

., What about the Dodd Frank law prohibiting ballon payments?  

There are multiple considerations here beyond managing reservations and cleanings and if you only have one property I think you will find it cost prohibitive and creating other challenges. 

Even if this is true, and it often is, the IRS is prohibited by law from responding to that.