I think the reason the experienced guys such as @Jay Hinrichs are avoiding a direct answer is because what you are doing isn't legit.If I'm reading the situation wrong I apologize for jumping to conclusions.

In conclusion, your self-directed IRA can be a great tool in your tool box.

I completely disagree with your conclusion that you cant beat the market, you already are.

I also have a couple friends in the area that could help me out if need be - but I would rather not ask them for favors if I can help it.The first crack in my logic: One of my tenants let me know that the sprinklers turn on 3 times a day and the grass is very soggy.

A few decades ago GRM's of 4-8 were considered standard for multis, now in the age of weaponized finance it's unheard of.Interesting article I found that comes to a similar conclusion as you, written in 2013!

Take it to it's logical conclusion: well if you put 100% down THEN you'll cash flow nicely.

It is one hell of a stretch to draw that conclusion based on your "evidence".

You need to look at a longer-term trend before making that conclusion.

I've come to the conclusion that there is no right or wrong answer.

So last week I posted this:http://www.biggerpockets.com/forums/52/topics/67520-tenants-former-homeowners-squatters-and-their-rights-to-utilitiesDidn't get the conclusive answer from Holdman that I wanted... so was hoping someone could tell me what exactly defines a tenant.