When the IRA invests in real estate using debt not only does it have to be non-recourse but the IRS says, you can use leverage but since you aren't only using IRA money for this investment the retirement account is going to pay UBIT on the income generated because of the debt. 

I don't include non paying Tenants because I like a small slice of positivity in my life and prefer to think I did our screening well enough that all our Tenants are paying.Cheers! 

Since you are in a non CM state, You are EACH considered a member. 

ChatGPT tells me that the cash out proceeds even if only reimbursing myself is non deductible because the proceeds are not reinvested in property

Again, I'm in Portland Oregon, and they specify "tenant applicant" (paying for rent) and "non-tenant applicant" (not paying).

They have no Deed, so there is no foreclosure, just eviction for breach of contract and non-payment of dues.

Austin was appreciating faster than non-tech cities.

If you do not have (2) full years of 1099 you can still get approved for a mortgage using a Non/QM program like a "1 Year 1099" program or Bank statements.

Here are the numbers:$30k - avg monthly income3 options for rent vs buying$12.5k - avg monthly payment (20% down) on $2mil home$6.25k - avg monthly rent on $2mil home$6.25k - avg monthly payment (71.5% down) on $2mil home3 options for return on capital:7% - avg yearly return on 71.5% down payment (assuming 5% avg yearly appreciation in SD)10% - avg yearly return on from S&P 500>10% - avg yearly return on investment property (just an assumption, but I think you are all here because you beat the stock market)First, the $12.5k monthly is very intimidating and beyond what I should be spending on shelter (a no-go for me)

Here in Colorado, we create a lot of non-conforming duplexes out of traditional single-family homes.