I’m estimating renovation costs at around $150,000.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

Quote from @Charles Evans: You aren't crazy, but you must be honest about the true cost of ownership.

A good friend of mine once dealt with a similar setup in Philly.. big steps, narrow frontage, and enough snow to give tenants an excuse to skip shoveling alltogether.

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

Hard money typically refers to a company that has it's own underwriting guidelines, rates (9% - 15%), costs, draw process ect.

Selling the PropertyIf your parents decide to sell, they could: Sell As-Is: At a current appraisal of $350k, they could walk away with a sizable profit (after transaction costs like realtor fees, taxes, etc.).

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

You might check with your Self-Directed IRA Trust Company/Custodian, they might have a brokerage connection capability where you can setup a brokerage account tied to your IRA, then you can with that brokerage to invest in various public market investments, in some cases stocks, mutual funds, ETF's, treasuries, and CD's.