If I understand correctly you'd be purchasing the land, and improving it and splitting it into the appropriate "buildable lots". 

When choosing a location, focus on markets with job growth, population increases, and a diverse economy.

@Richard NguyenHere are some of the downsides of putting real estate into a self directed IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

It is improving, meaning sellers and builders are facing a little more competition, but there is still a shortage of housing units in the region. 3) Rental prices are strong and single family homes and townhouses rent very quickly.

These are typically located in lesser-known vacation rental markets, but have very strong fundamentals and great room for improvement. 

Note: This all pertains to the 2022 tax year and I still have a W-2 job which is the main source of my income.Given I've only owned a rental for one year (also my first home ever) and I'm very new to rental-related taxes, I of course hired a "good" tax advisor/CPA to help ensure I stay out of trouble with the IRS.

You'll also want to consider if each lender provides funding for renovations/improvements.

Once again: Great job Mike!

.: Quote from @Chris Seveney: @Dana YobstBlows my mind how he is out there still teaching classes and going on as nothing happened but it sounds like these debts are not getting substantially paid down.As many of us know, one of the main reasons he's able to continue on is with the help of this other self proclaimed criminal https://weclosenotes.com/ep-nc-03-protecting-yourself-using-a-corporate-veil-with-aaron-young-from-laughlin-associates/ Using a remote entity to limit liability is a life blood of insuring investment into all types of job creating, life saving and life improving business development.  

Ultimately I had a vision for how this particular home could easily be improved and rented for top market without much headache.How did you find this deal and how did you negotiate it?