Originally posted by @Dawn Anastasi:I have always been condo-adverse however this year I decided to try an experiment and buy a condo (with a partner). 

Install landscaping that requires less water.Gadgets that help prevent water damage if water goes where it shouldn't be going: water alarms (place under kitchen sink, next to hot water heater, next to washing machine) and a "dwip" pan for under the dishwasher (if the dishwasher starts to leak, it forces the water away from the back of the cabinet and out onto the kitchen floor where it can be seen.)This is how we do it:Utilities that are variable (cost tied to use) - electricity, natural gas, and water/sewer - tenant paysUtilities that are fixed (flat fee) - garbage/recycling, yard debris - landlord pays (but we factor the cost into the rent.)In our city, both water/sewer and garbage/recycling will become a lien on the property if it is not paid.  

Or counters were laminate, a couple floor tiles had chips, one house had no dishwasher).- Usually the neighbors were nice and would look out for the house while vacant, they just wanted decent people to move in next to them and would often refer friends as potential renters (this can also be a negative).- At least in my market, easy to sell if you decide you want out. 

@Dawn A.

I think the hassle factor with money coming in and out, the difficulty of financing, and UBIT all combine to make actually owning real estate inside an IRA unattractive.As @Dawn Anastasi mentions, making loans with IRA funds is a more attractive option. 

Non-Sanded Grout (123-851) Stove – Frigidaire 30-inch, 5.0-cubic feet with Self-Cleaning Convection Oven in Stainless Steel (548-983) Dishwasher – Frigidaire Gallery 24-inch, Front-Control in Stainless Steel (169-416) Microwave – Frigidaire 30-inch, 1.7-cubic feet, Over-the-Range in Stainless Steel with Sensor Cooking (533-524) Refrigerator – Frigidaire 18-cubic feet, Top-Freezer in Stainless Steel (1000002771) Granite – White Thorn (Custom Granite Company)Link

Dishwashers, ceiling fans, garbage disposals, and even closet doors are money losers.

I had a SFH in an area that was on an upswing, however on my street it was not and we had the back door kicked open and they stole the stove, microwave, and they tried for the dishwasher (couldn't figure out that it was bolted in so they left it).  

For me it depends on what kind of rental it is, is it old as hell, am I trying to keep the tenant happy, is the repair guy good enough to find the problem spot on, could I just get a new fridge or dishwasher for half the cost with no future problems?

Hi Dawn In the resources tab at the top of the page click "fileplace" there are very good docs available for download....contracts,spreadsheets things like that.