There are risks and rewards like anything else in life.  

I talked to numerous California investors in real life and phone/Zoom calls who have lost money in far away OOS markets, mostly Midwest markets (e.g. repairs, capital expenses, bad tenants, properties vandalized while under renovation, evicted tenant stole all the appliances, property managers with high fees or overcharging for repairs).

Quote from @Shannon Vistisen: @Brady Morgan You are a life saver!!!

Quote from @Kevin Rodriguez: After numerous unsuccessful attempts to secure a deal to cohost, I’ve decided to adopt a new strategy.

Actually the IRS does not tell us what we can invest in, only what is disallowed (life insurance contracts and collectibles).Allowable investments for SDIRA investing include the following:Residential real estate, including: apartments, single family homes, and duplexesCommercial real estate Undeveloped or raw landREITs (Real Estate Investment Trusts)Real estate notes (mortgages and deeds of trusts)Promissory notes Private limited partnerships, limited liability companies, and C corporationsTax lien certificatesOil and gas investmentsPrivate stock offerings, private placementsJudgments/structured settlementsGold bullion Factoring investments

That’s life, things happen.

I've house hacked twice starting at 22 and it's changed my life. 

Someone's home is one of the BIGGEST and MOST IMPORTANT things in their life!

Desperate - experienced, nothing to lose type of situation, and the opportunity is so amazing that it is life changing  (Ah what the heck, he was already on the edge, it may work, it may not, but he was in a desperate situation)I wouldn't recommend it for normal people.

If I have to use every dollar I have access to and drain my life savings dry, so be it.