You also will still need to manage your property manager  - ie, stay on top of expenses, ensuring your property is being managed effectively etc. 

Hey Matt,With $50K in a self-directed IRA, there are several strategies you could explore to generate both short- and long-term returns, depending on your risk tolerance and investment goals.

Maintaining a financial track record for your project is facilitated by effective budgeting.3.

Whether it’s networking, discussing strategies, or exploring potential partnerships, I’m excited to engage with this amazing community.

What strategies were you considering? 

It is a complimentary strategy to pull some of your money back out and hedge your bet.

Good luck with the wholesaling strategy.

There isn't a lot of strategy to just buying a new build.

.- Does anyone see any flaws or can offer some improvements/considerations to the financing strategy of this plan? 

Using a HELOC to fund your first rental can be a great strategy, especially if you want to preserve your cash for other expenses or unexpected costs.