I was looking there myself and curious what areas you would choose for a mix of cash flow and appreciation? 

Here are some reasons why some wholesalers might choose not to get licensed:1.

Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

If someone is willing to live in and renovate the 2 of last 5 year capital gains exclusion is a significant consideration.

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.  

However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).

I live in Indianapolis and work exclusively with OOS investors so I'd be glad to connect and discuss this market whenever you like.

I exclusively invest out of state (buy and hold / fix n flip) because cashflow is extremely difficult to find in this area.

They couldn't or choose not to get rent increases in order.

But I choose to rely on these court decisions.