I bought a 4 family this year with a CAP rate north of 20 so it is possible but not something you find every day. 

We agreed to a cap at some point but we never got there.

The real question is if the $52k is a cap for contributions in total for the individual or for the business activity.  

It's a cap on itemized or standard state income tax deductions for those earning over $300k.

I wonder if there is a cap to the percentage of the LLC the IRA can own.

The returns will match an underlying stock market index with a cap on the max you can earn and a floor at zero.

@Natalee N. just beware 29 Palms just put a cap on STR’s.  

I understand that tenants can take advantage of included utilites, so I'll do my home work and establish a cap if that's the route I take.Average rents for a 1 bed/1 bath in my area is $650-750 per month.What are you all's thoughts?

It looks including utilities and putting a cap on them so that they would pay if they go over is the way to go.

Partner with a developer and either take either route 1. or 2. presented above.As a first time developer, my advice would be to partner with a developer (with the help of a capable and experienced real estate lawyer) and sell the serviced lots to a third-party builder because you can: (a) learn the business from an experienced developer (b) take advantage of your partner's relationships within the industry (c) build your reputation and relationships among those in the real estate community (d) obtain financing easier (lenders are more reluctant to lend to first time developers/borrowers) (e) focus on learning the development side before you tackle the house construction side.