For the exact mechanics. 

@Trevor MurphyI'm going to skip the numbers --- thanks for providing.But, I think you need to understand a bit of the mechanics of "refinancing a loan." 

At a minimum, you'll need to take care of any structural, mechanical and plumbing work the home may need.

to get licensed as a trade contractor, ie electric, plumbing, mechanical, you are absolutely right, you need to work as an apprentice under someone. 

I also need some guidance on HVAC and mechanical room considerations. 

The mechanics alone is a huge problem.  

Some of the failure mechanisms are rusted connection hardware, crack treads, spalling from freeze-thaw cycle, and decay from moisture.  

It seems most of the IRA custodians that support the SDIRA/LLC arrangement don't actually handle setting up the LLC or help with the mechanics of operating it.We've found a couple that do, IRA Financial Trust Company and Midland Trust.

Price 450,000Cap rate on listing is 13.35%Taxes 15,700Annual Gross rent 81,9008 unit property        4 commercial units (2 restaurants, 1 liquor store, 1 mechanic which uses the garage)        4 residential units (2 units are 1bed/1 bath, other 2 units are 3bed/1bath)The property is right off a main road with the train tracks to the side of it C class neighborhood The property will need renovations, roof was done this yearAll units are rented and have been long time tenants This would have to be a cash deal and was thinking about getting a hard money loan to secure the property and refinance out of it. 

The cosmetics are usually decent because mommy wants baby to be in a nice place, but there is often problems with old mechanicals, aging roofs, etc.Student rentals are its own art.