In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a speciality trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by yourIRA.

In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a speciality trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by yourIRA.

Garden style apartments with off street parking (no covered parking)Building Attributes: Exterior Walls are Brick/Masonry and Pre-Fab Wood Land 2 AcresTotal Units: 24 (1 bedroom- 18 units; rent $850) & (2 bedroom- 6 units; rent $950)Taxes $40,000/yearAmenities NoneFacts:What I like about this property is owner was a builder who built it in 1970, he passed it on his son in 1993 (son must be in late 50’s).

The difference lies in how debt is attributed for basis purposes.

I'm still a beginner, but my understanding is that "quick to close" is the attribute that my target sellers would be looking for, and that they wouldn't perceive a difference between a sale financed by a hard-money loan and one financed by cash in my checking account. 

With you attributes, I would like to earn your business.

How much could be attributed to luck vs. skillful decision making?

Expenses become deductible when the activities they are directly attributable to qualify as a trade or business, and corporate status has no effect one way or another on that determination.  

Additionally, I have qualms on the assertion that parking/traffic is an inherently negative attribute of STRs, again, because it applied without recognizing how an owner occupant utilizes the property during their routine (maybe they have 6 cars...maybe they have deliveries scheudled every day...maybe they choose to throw house parties for their family and friends once a week).2) Density (as proposed): Wow...this one screams slippery slope and significant impacts to investors.

Some attributes I try to avoid with my SFH rentals:- HOAs.