@Jared CauffieldI love this question - actually have written down my WHY on a paper right on my desk at my home office; never ceases to spark desire!

. :) We are signing papers on Saturday morning so I need to prepare the purchase contract.

I have a 6 unit listed on the market for 7% (which on paper sounds good) but it is in an area where investors are expecting more around 8-10% (C/D class).

I believe we have all the paper work (5 day notice, original lease, updated ledger showing the non payment rent etc).

This is a big move, I've ran numbers in my head before on properties that I thought sounded amazing, when I got them down on paper I was way off.  

This rent covered all expenses on the 15 year mortgage, insurance, and HOA fees with small profit that got eaten up on paper by LLC expenses, depreciation, PM and accounting fees, etc.  

Inventory is tight so you may need to see what is available and priced right vs ideal on paper.

If you are just looking now finding a good PM in the area can help because they can steer you away from deals that may look good on paper but not in real life.  

The deal is gone.she signed a contract, 2 weeks ago. she doesnt want to sign the final papers on the closing day. she has to have some legal obligations no?

Only a Self Directed IRA require a custodian who is responsible to make the deals, meaning they sign the papers etc, this costs money and time.