Good transaction accounting.

I see a lot of awesome amenity packed outdoor hang out spaces with outdoor pools posted on the many STR related social media accounts that I follow, but I don't really ever see any pool fences or other safety features highlighted. 

So we create a partnership agreement and a new LLC and he funds the LLC account with 50k.

@Jim Stanley Keep in mind any expenses of your SDIRA asset must be paid for by the account that owns that asset. 

No one accountant is an expert in all areas in the tax code, so best to figure out what you want first in the world of real estate and then dive deeper there. 

You might make more money in a good interest account or dividend paying stocks, without the hassles of tenants. 

You’ll want to account for vacancy, capex, property mgmt, repairs, etc. 

Their rates are good but boy, they looked at my financials and ask some funny questions such as asking for proof that I could withdraw funds from my SEP IRA account, and that I need to provide documentation to verify that  this employer sponsored retirement account allows for funds to be withdrawn, or if withdrawals could only be made in connection with the borrowers employment termination, retirement or death etc. everyday they sent me something new to answer.

Usually if you have several accounts and investments with 1 bank they will provide you with low to no lender fees and the better rate.The main issue here is that there is a lot of time/effort spent looking at your financials and documents to make sure there are no discrepancies, qualifying you, and sending Pre-Approval Letters, for you to just go with another lender that is offering you the better rate/fees.

As soon as you get the leases signed and proof of security deposit and first months rent deposited into your account your can use it.The question should be, do I even need to get the units leased out to qualify ?