Good for your account in theory, but you really need to understand what is driving that cal rate for that area before purchasing a property.

He had uploaded screenshots of his bank accounts. 

This means 20-25% for a down payment, and it has to be your money that you're using (verifiably in an account that belongs to you).Though there are programs that lend up to 90/100 to first-time investors, those programs usually don't work in Maine due to the rural nature.

For example:- Lender drops the LTV to account for additional risk. - Tenant agrees to either start the loan with recourse, with it burning off after the extension is signed, or start the loan as non-recourse with a springing trigger if tenant does not sign the extension soon by a certain deadline. - Lender requires a heavy TI/LC reserve until the extension is signed.

He has paid rent weekly via auto-deposit into my account for 24 months.  

However, after running the numbers accounting for insurance, PMI, taxes, vacancy, capX, property manager, etc. the property is estimated -1.85% cash on cash return (-$600/mo) once I fully rent the property.

Every rich guy with a brokerage account at all time highs wants to "get into real estate" - too much money chasing not enough houses.

How can I get comps, both sale and rent comps, for single and MF properties without having access to MLS? and without being a real estate agent. Any recommendation is highly appreciated. Than you 

When a self-directed IRA borrows money, the IRA account owner can't sign a personal guarantee.

Finalizing a few things now but couldn’t i just use the one ipostal address for all instead of separate accounts / addresses?