We typically look at these as 36-48 month balloons on a 30-yr am schedule...7-8% interest...10-20% down...Alternatively, you could structure a lease with an option to buy....same basic concept but it works differently...contract for deed offers the seller the most protection because you hold title until the terms are satisfied...and there are a few variations of each...just depends on what you're comfortable with.

I also considered creating an LLC with my partner but then my mortgage broker said that they do not refinance with LLC’s (we were planning on using the BRRRR concept).

Thanks for your comment I really need to wrap my head around this leverage concept.  

The very concept of a tax inside of an IRA scares a lot of folks off from even thoroughly researching the concept... which is their loss.When an IRA uses debt-financing, the percentage of the income that is derived directly from the IRA capital is fully sheltered. 

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

This is what I mean by the concept less is more, you have to know your market and your particular demographic; who will be your end buyer.

@Jessica Tomlinson like with a lot of things, the exact same concept can be found in commercial but it's called something different.

Secondly I would suggest learning the craft of deal deal evaluation, real estate investing concepts and what cap rate, noi, cash flow, cash on cash return are.

Make a big eat in open concept kitchen.