But at that point the type,  required effort and looming unknowns can turn it quickly into anything but a cash flowing passive instrument. 

did not read it .. but debt instruments in your IRA tend to be a better fit than owning the asset.from a practical standpoint were folks can get in a bind is they don't leave enough reserves in their SIDRA to handle cap ex or tenant trashing of a unit.. and find themselves with not enough money in the SidRA to rectify.Plus the other thing is you wasting your ability to depreciate the asset.. notes don't depreciate.. so there fore notes are generally a better safer fit.. as long as your buying quality notes.. 

Purchasing tax liens is purchasing a finance instrument. 

Both are short-term positions as I am a trader of those instruments.

@Tyler KastelbergHi Tyler, what is the typical cash on cash return in passive RE investment instruments like apartment buildings, commercial RE, RE Mutual Funds, REIT?

The downside to HELOCs is that they are adjustable rates and callable notes, they're not long term debt instruments, but they're very useful none the less. 

But boy dealing with tenants one on one I am the worlds worst.. but put me in a financial obligation debt instrument roll and that I am pretty good at.. 

@Travis HowserTravis, mortgages backed by Fannie/Freddie are perhaps the best debt instrument in the world.  

At the top (where we are today) I'd rather acquire a B+/A- asset with an 7-8% yield and a long (15 (agency) to 35 (HUD) year) fixed rate debt instrument.

He also has been instrumental is getting my cost segregation study started and answers emails within hours not days like the last guy.