As such, we're expanding our search range to include more of Pierce county, Spokane (though this is very new concept I've been playing with), and out-of-state where we grew up in Central and South Florida.I just read a great report from FannieMae on Multi Family investing in Austin, TX. 

@Edward B.The loan is not attached to the property, the lender has a general knowledge about the investing I do but the loan is not attached to any single property.

Also, I'd recommend reading David Lindahl books, and Lance Edwards books.

@Joe Edwards-Hoff Looks like you found Gold there.

@Tommi Edwards Hi Tommi, no I haven't but thanks for the advice; I'm going to post on BP for referrals in my area as well.

@Edward B. 

Hi Sunny,  That 50% concept is most commonly applied to the scenario in which the IRA is buying ownership in an existing LLC. 

The truth is that from where you are today, investing 'out of state for better deals' concept is totally misguided and scares me!  

As Edward said, you will have to register in every state you ownand operate in.

I am attracted to the concept of a hybrid turn-key provider or an operator that would source a wholesale deal, rehab it, and maybe even manage it on my behalf.