I want to participate in a live foreclosure auction this Tuesday in DeKalb County.

His funds seem limited which is why he is confused about getting into a smaller deal.I would recommend the OP search for PM clients to build experience, gain more investor contacts, and hopefully close a deal that he can participate in.

I've been slow to participate in the community, but am tying to be more active and not 'lurk' like in the past. 

@Greg Davis How Our Machine Works is by Utilixing Our existing Credit Facilities You can participate On Our Platform to retain the equity: W-ZERO FEES

The following IRS page is a good resource. https://www.irs.gov/retirement-plans/plan-particip...

Eddy from Lutz Fl,new to BP.Looking to investing in real estate ,buy and hold mindset,positive cash flow and looking for a great deal of participation in the BP forum.Own and operate an assisted living facility 6 beds and looking 4ward to transitioning to real estate investing full time.

Having entry-barriers to anything forces the participant to be able to perform at a certain level of capability prior to entry, and is a form of protection for all participants, both new and seasoned.

According to the IRS rules you are considered to be disqualified person to your IRA and as such are prohibited from providing any services to your IRA:https://www.irs.gov/retirement-plans/plan-particip...If you had a long term tenant you probably could get away without using third party property manager, however vacation rental will have high turnover, which will require significant involvement from you, and would be considered as you providing service to your IRA, which is prohibited. 

I recommend that you stop reading as your primary means of education after you finish these books and transition to active participation in your investing activities. 

You then have to demonstrate that you materially participated in your real estate activity in order to actually deduct the passive losses.