If there isn’t significant equity capture at this purchase price, and it’s not in a great location, this would be a pass for me.

If they are not great on communicating I would look elsewhere.

A lot of great advice in this thread - while Greg is right, it's a common mistake, and the right lender won't have you running into this issue - I always recommend buying in an LLC. 

House-hacking is a great way to start...

Hello @Jeanette Land - (Great last name by the way to be into Real Estate)...

Using a self-directed IRA (SDIRA) to invest in real estate can be a great way to grow your portfolio.

It's mostly Class A properties, a few Class B.You may find the below copy & paste info useful in addressing your question:----------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Being able to be on site and able to commute 20-30 hours a week on the project is crucial for me 

I intend to use it as a single family and it is a great deal.

Even if it is only a 2 bedroom, great looking place.