If they don't sign and return the new contract, begin the eviction process and get a new tenant with the rent you want.The tenant is not in control here, you as the owner have control.

Forbes has a habit of putting something like this out every few years.The "bad" thing about investing your IRA in real estate is that the main Wall Street players do not have control over your funds and the means to earn commissions selling financial instruments.His arguments are entirely tilted towards to negative and not providing any context or perspective.I could just as easily pick 3 or 4 historically bad stock investments (Enron) or high fee annuities, and make it sound like that was all that you could expect if you went to a conventional brokerage - which is clearly not the case.For someone who understands real estate as an asset class, there is the potential to have your IRA produce consistent returns and have true diversification away from the news-cycle volatility of conventional financial products.

Biggest thing is you need to be comfortable giving up control.

I am watching numerous BiggerPockets videos and taking advice on how to properly control my finance for this adventure.

Control the things you can control, and stocks are not one of them.

During an inspection by the city, it was noted that the system lacks a backflow prevention device, which is not up to city code.3.

Rent control changes everything of course.

4- Who maintains control of items purchased for the above work, the Management company/Landlord or the Make Ready/Rehab contractor?

Such IRA-owned LLC entities cost more to setup initially, but eliminate most all transaction fees with the custodian and give you much more control over your investments.IRA Services used to be good. 

If the development is poorly ran the monthly condo fees rising and special assessments could get extremely expensive and you have little to no control as a minority owner in the building.Some investors try to control the board by buying up a majority of the units.If you use a broker or agent make sure they specialize in condo's if that is the way you want to go.