It's a common question.I until it goes to auction or is taken back by the lender, the owner is still In control of the property.You would have to speak with the owner and see if they are interested in selling.

Also buying a home "Lease to own" or "Lease Purchase" is a great method to controlling a property.

@Ben S.You have to find out exactly who controls the roads.

If I didn't want any control, I'd just invest in a mutual fund or REIT.

It is a sophisticated and powerful retirement plan that puts you directly in control of your retirement savings, and directly responsible for adhering to IRS rules.  

I like the idea of having some control over returns whenever possible.

Each property has a class code, or more precisely a subcode, corresponding to a property in the Schedule E.I use the "class" and "subclass" function where "class" is for "state" and subclass is for property.

(1) You cannot qualify for 1031 benefits if you sell the property under one name (even a pass-through entity controlled by you) and buy the replacement property(ies) under another name

Hello Liwen,In addition to custodial self-directed IRA and Checkbook IRA you may qualify for a truly self-directed Solo 401k plan, which does not require a custodian and you don't need an LLC to have the checkbook control.

I just don't like not having much control over the deal.