Some dude who makes $247,000 a year brushed me off because I reported it a year after it happened.

Do not buy anywhere if the state or metro populations are static or decreasing.

We then applied the cabinet enamel, which is especially made to be durable, with a small cabinet roller and brush.  

How about everyone has to take a shower and brush their teeth every day?

The roots can get into your pipes, potentially cause foundation issues over time, branches brushing against the roof can degrade your roof over time, etc.Install rubber stoppers wherever doors might hit other surfaces. 

This is not what is referred to as checkbook control, but for one or two relatively static assets like a private fund or REIT can be effective.For more dynamic portfolios with multiple assets or certain investments like rental property that generate a lot of transaction activity, relying on a 3rd party custodian as your processor becomes unusable and expensive. 

Painting with an admittedly broad brush, but for a lot of years all GPs had to do to find success was buy an asset in a good location at a not terrible price, do some landscaping, put in a new sign, rehab some units, throw in a playground, and they could get to 85-90% occupancy.

This works OK for relatively static and simple investments like a private placement or crowdfund, but can become rather cumbersome and expensive with a more time sensitive and transaction intensive asset such as a rental property.

Some declining location indicators:State or city population static or fallingLow property pricesLimited increases in prices and rentsHigh unemployment rateHigh crime - On Neighborhood Scout’s list of the 100 most dangerous US cities.Economic downturnIf your goal is a passive income you will not outlive, keeps pace with inflation, and is reliable, buy in a growing city.

So, ultimately, you are the one responsible for ensuring your IRA transactions are within the rules, regardless of which structural approach you choose - custodian held or truly self-directed with the checkbook LLC model.In some cases where the dollar value is lower and the account is being invested in relatively static assets without time-sensitivity or frequency of transactions, a custodian serving as intermediary can be a fine solution.