All rents you get from this property has to go back into the SDIRA but if you get a 20 year mortgage (that the rent can cover) and can pay the rental off by age 65 you will have turned that $90K into several hundred thousand’s of paid off real estate.

Unfortunately each one is worth 25k. thank you  traditional lenders are not going to finance these properties.

I work in WA, not IL.Sounds like similar facts - you need to be licensed if you are going to manage other folks' property.Here, you need to hang your license under a managing broker until you can get your managing brokers license, as brokers can't touch money and do a few other things legally.If it's like WA, you will have to hang your license under a managing broker at a brokerage, and coordinate deposits, contracts, fees with them.If that is the case, ask some brokerages that will allow you to hang your license under them for minimal fees in order to be compliant.

I submitted an application etc but I am going to finish the rehab to get better terms before resubmitting.The back story is that I am about 90% done rehabbing a home for a rental. 

Great reason for not pulling deductions forward.I have been retired from a W2 job for some time and my income is at an all time high and will just keep going up with more RE investments. 

going to commercial financing on 5 units will significantly hurt your valuation.  

I would retain control during my lifetime, then the property would go to my daughter.

Any tips?

I'll provide some tips below.2.

And then go back to the broker/lender once you are serious or have it under contract about the deal for exact rates and terms