Currently selling regulatory compliance data and alerting systems in the NYC market to owners/ managers.  

Is there any cert/regulatory body for inspections in CA?

Third, the biggest mistakes are to invest without also be able to cash flow as long term rentals as well as not researching the regulatory climate.

I also am very aware that the smaller the asset base of the operation the less regulatory attention, and the smaller the fines and penalties.

Risk/reward is a key component to evaluate, and I would put regulatory complexities on the risk side of the equation.Better approaches more suited to an IRA would be to have the IRA be a private lender and loan money to other unrelated flippers, or to buy a property with IRA funds and a mortgage that would be held long term for rental income.Keep researching and get on the phone with a few professionals in the field. 

2012 is the biggest year for commercial real estate note becoming due hands down.... research done by marcus and millichapas long as banks have these assets right down to where they need to be they can take a discount selling notes, but if the assets is not charged down, its very hard for them to take such big discounts as regulatory wont allow them.I think 2012,2013 most lenders will be willing to work big discounts on their non-performing stuff.

@Katharine Chartrand Another angle to try is to file a complaint about the broker with the state regulatory agency.

The problem is is that those in office and in regulatory positions have probably never done a seller financed loan in their life and all they know is the securitized mortgage market, seller financed transactions are not like, nor can the be like a secondary market loan, but they can have ability to pay rules, credit counselors, properties repaired and in time most buyers can meet secondary requirements. 

I have been in the commercial real estate financing industry for 25 years and even did a stint for a few years during the last financial crisis with a federal regulator. I

There seemed to be confusion in that they wanted to buy multiple properties in multiple counties as a "package" for the project, but were having trouble fitting that in with their regulatory scheme, rather than one large investment, such as an office building.