He goes on to brag about how he instantly created $40,000 in is asset column.  

I'd instantly agree that anyone PROMOTING self directed IRAs should have some heavy regulatory scrutiny.But someone that does the research and decides that this is how they want to structure one component of their retirement plan... is probably a pretty smart cookie IMO.So, I suppose with that being said, I wouldn't object to some form of reasonable education + test requirement.

It all has to do with a lot of M&A that happened in Silicon Valley, money that people realized in an instant, and hence spending it uncontrolled.

I instantly received 10+ emails asking to see the property.

A business model based on the old stereotypical image of joining a country club, making friends on the golf course and instantly gaining business success probably should not be exclusively followed by the newbie, however, with the importance of networking and reputation, I think they should try to steer clear from being disliked by too many people if possible. 

There is instant gratification in working on a house that I do not get at work.

Benefits for grandma is she is getting cash (I would certainly give some down payment so grandma can have somewhat of an instant payday) a check for 1,400 - 1,600 a month that is 100% passive.

You receive a message instantly when they pay rent.

So, he got that much in paper equity instantly at closing. 

I would be on the phone with him the instant I saw that.Hiring anyone hourly without knowing how any hours something takes and not being able to oversee the work can lead to someone fluffing their time.