It sounds like an attractive project in theory, but if you guys have never done it, it's one I would not recommend doing for a first-time unless either of you has architecture or construction experience to stay on top of the costs which will spiral out of control.

A Self-Directed IRA is still an IRA, just with different servicing architecture so it can be invested more directly under your control rather than limited to what the IRA provider sells. 

I've noticed that a lot of the listings already have approved architecture and environmental studies.

I spent 5 years in Baton Rouge for my architecture degree at LSU and have lots of family there. 

I have a full time job in real estate development and have no intention of leaving, but I also love all things interior architecture, design, carpentry and DIY.

I have architectural drawings obtained by the current seller as well as a zoning determination letter saying there are no zoning violations at the property and it is considered in compliance with the Zoning Ordinance and the described uses are "permitted by right uses".  

On here to see if I can use my existing skills in architecture and construction for real estate investment in central Arkansas.

Connect and I can tell you more or trade an hour of consult for some architectural advice :-)

I don't need anything that shows architectural detail, I can talk my way through that pretty quickly and could add supports to floor plan layouts.  

From realtors to construction project managers, architects and builders, real estate runs in my blood too, so I guess it was only a matter of time before the bug bit me too...I am especially passionate about urban housing and old architecture, so I've been loving the hunt so far!