Wondering what people's thoughts are.

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

A couple of years ago, I worked with an investor who never updated the contact information for the loan and the Bank call the seller (ex-wife), that day she was mad at her ex-husband and told the bank her ex allowed someone to steal their property from them and they got no money, she was kicked out of her house and there were strange people living there.This could all have been avoided if the investor did this process correct.Get educated, also I do not know your attorney but not many attorneys have the knowledge to do this process correctly. 

It's great that you have a big heart, there should be more people like you!

People were so quick to say he was way off base.   

It makes lead management way more efficient since they get to focus on people who actually want to do business. 

And the best part is that I haven't had any missed rents because people weren't able to apply. 

Tell people your policies, send them via email when they start the screening process, and send them again with your denial.

People want to be on the water not near it.

I know some people do this but proceed with caution.