When the IRA invests in real estate using debt not only does it have to be non-recourse but the IRS says, you can use leverage but since you aren't only using IRA money for this investment the retirement account is going to pay UBIT on the income generated because of the debt. 

Now, you need to figure out how to find deals and pay for them.

I assume you would have to pay cash, because you have to spend all cash received to avoid taxes.

If you aren't paying cash and are doing owner occupancy you may be able to use FHA instead of Conventional with a higher down payment. 

Their pay-as-you-go model allows flexibility, so you only pay for what you need.

I assume the lender pays for it, correct?

Most lenders require proof of someone else paying the note for around 9-12 months so that the debt isn't counted in their DTI calculation.

., 10-day notice to pay or vacate for nonpayment of rent).

Are there specific market indicators or property traits I should be paying attention to?

Thank you  you can only use your equity if you have the ability to pay it back.