I'm just investigating rental property ownership and this is one of the questions that came up for me. 

Proc. 2004-51, qualified indicia of ownership were transferred to the the earlier of a total of 180 – days or the date upon which the exchanger has to file its tax return for the year in which the exchange was initiated, to complete the purchase of the replacement properties."

It’s done but can be risky.Just my 2 cents and how I approached my real estate / home ownership process - not saying it’s right or wrong just sharing my experience

Are you primarily motivated by the idea of ownership in the assets rather than someone else owning and managing it?

I have placed 50% ownership of that one unit in a Special Needs Trust for him and the other 50% ownership in my trust.

If your partner is a contractor and wants to keep busy, that could be a different story, but I at least consider looking at long term ownership plans and flipping as very different businesses and a lot to learn on both, so not sure I'd risk losing money and time dealing with flips. 

If you’re planning to pay cash for the rehab, make sure the lender provides non-dutch interest on the rehab portion so you only pay interest on the funds you actually draw, if any at all.Once the renovations are complete, you can do a cash-out refinance after 3 months of ownership.

He will find investors who will take a chance and he will find people who have a good enough run over the first few months of ownership to buy more.  

Now, never mind the $120m I personally received over time of this for running it and all, no your all supposed to weep for me because I "gave up ownership" and walked away, LMAO! 

So for anyone reading this, the difference between Titan (and Solera) vs. other national banks is that their application for a business checking account specifically asks if you are trying to set up an LLC checking account for an LLC owned by an IRA, and if you check "yes," then you have the opportunity to enter the IRA custodian's contact information and clearly identify that the IRA is the owner and that the manager of the account has 0% ownership interest of the LLC.