I'd be interested to see how seasoned investors interpret these numbers as I've never used a property manager and can't make heads or tails of what's fair.

Great Points @Brian Eastman that is true and you skipped to it as I was hypothesizing that same thing that if you used a LLC or entity inside the IRA it would shield the recording and name on the note in a manner which would allow it to not "count," towards the financed properties count for borrowing needs outside of the self directed retirement plan.You did mention a good comment that it only affects lending outside the retirement plan and not inside and that is true.As the legal jargon gets interpreted I believe they will revert back to how it "should be," which is that loans inside IRA's should not count against the fin/prop count or debt to income since its a separate entity from practical stand point. 

I haven't done any research, but it is likely that this hasn't ever come before the court for judicial interpretation.

We have found that ever broker has thier own set of "rules" (i.e. interpretation ) so the key was to find the ones that worked the best for us 

@Jimmy Bradford  I think the issue may be the interpretation of the "legal description," on the title report that is attached to the property.If it was financed before it may be that the legal description changed or was looked over to go ahead with loan docs and funded.If I can pull a preliminary title report from your address I can review and let you know if its possible to refinance as is, what your options are, or other options.

I stopped mentioning loan classifications due to the different applications and rarity of that interpretation. 

With that school of thought, you then need to step fully in the process and make sure that title has been ordered.Every locale is different so check with your title company to help you interpret the contract AND understand the local laws and customs that have to be followed in order to get the deal closed.

For anyone interested, here's the legal document governing the VA Loan Guaranty Program, I tried interpreting it in light of the above information, but I'm really not that great at interpreting legal speak.

It discusses the method of payment (direct deposit into a specified account).This is what I have a question about how to interpret regarding late fees:"If Landlord does not actually receive a rent payment in the full amount at the designated place of payment by 12:00pm on the 5th day of the month in which it is due, Tenant will pay Landlord for each late payment an initial late charge of $50.00 and an additional late charge of $10 per day thereafter until rent and late charges are paid in full (not to exceed 30 days)."

The attorneys know the judges and how they come down on rulings and tend to interpret things.Court is not about if you are right or wrong.