Hello @Tove Fox,You are not investing in a state, you will invest in an individual city.

Without this workout, the down payment requirements, current levels of interest rates and cost of the transaction would not be incentivizing enough to for investment. 

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

To clarify, I didn’t invest in a “fund,” but rather purchased a note for a specific fix-and-flip project.

If you are familiar with VA investing, which cities do you prefer and why?

Quote from @David B Graham: Investment Info:Small multi-family (2-4 units) buy & hold investment.

I’m in the learning phase of my real estate investing journey. 

Investment Info:Small multi-family (2-4 units) buy & hold investment in Piffard.

Here are the top 10 tips to find the perfect house-hacking investment property in the Windy City:1.

Investment Info:Single-family residence buy & hold investment.