While it’s true you have to have a custodian for any ira the fees vary and if you utilize the checkbook control offer - essentially a special purpose trust or LLC is created and all the investments go into and out of that account owned by the trust or LLC.  

I'm always skeptical of condo investments because you don't control much of the operating costs. 

The loss of control justifies the expensing of the reserve on your taxes.  

You don't have control over the property.

Remember you will not control mother nature.

I would be careful buying a home in a park that you have no control over.

Tenant agrees to comply with all duties required by Wyoming Statute §1-21-1204: maintain the Premises in clean and safe condition and not unreasonably burden any common area; dispose of all garbage and other waste; maintain all plumbing fixtures in a condition as sanitary as the fixtures permit; use all electrical, plumbing, sanitary, heating, and other facilities and appliances in a reasonable manner; prevent water pipes from freezing by turning off outside spigots, disconnecting hoses, and keeping the rental heated to at least 50 degrees; replace lightbulbs, air filters, water filters, and other consumables as needed; test smoke detectors every six months and replace batteries as needed; immediately notify Agent in writing of any defects or dangerous conditions Tenant becomes aware of; replace broken or cracked glass, no matter the circumstance of breakage, unless the Tenant provides Agent with a police report detailing breakage beyond the control of Tenant; pay to repair anything damaged by the Tenant, his guests or invitees, whether through intentional act or negligence; upon termination, remove all personal property and garbage either owned or placed on the Premises by Tenant and clean the Premises to the condition at the beginning of the AgreementCreate a policy and stick to it.

I would rather control and hold title if buying property with seller financing rather than doing a Land Trust where the seller remains on title. 

Evictions are quick and easy (just a few weeks, faster than most states), judges have always been 100% on my side, sheriffs conduct the move-out quickly with no fuss, there’s no notice required for owners to inspect or enter the property if they want to (I usually still try to give some notice out of courtesy, but it’s nice that I’m not required to), rent control was prohibited entirely across the state in 1981 (recent efforts to overturn that have failed), HOAs don’t have much power here (max fine is $500 for non health and safety violations, they have to give ample notice before any fines, can’t foreclose over late fees or fines, etc.).

I would rather be able to physically see my properties and check on them frequently and have more control over them.