If you had $50K in a Self direct IRA how would you leverage that to yield short and long term dividends? 

I would like to start close to home as I plan to self manage the rental side of it.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

If you own real estate in a self-directed qualified account, the 1031 exchange is unnecessary.

One thing to consider is that in terms of wealth building and Kiyosaki's Cashflow Quadrant, owing a rental and doing work yourself is putting you in the self-employed quadrant, not Business Owner or Investor.I think there are a lot of factors stacked against California for long term rentals, and I think you know it too! 

Lastly, connect with other investors in those areas for insights and support—it can be a big confidence booster as you take the leap.

I want to remain local in NJ or at most drive down 1hr to PA (self-manage or, last resort, hire a PM)However, I must also consider maintaining reserves, a safety net for my primary home, and an emergency fund.It's just hard for a new investor now :(

Finding trademen and contractors is much tougher if you're self-managing.

Of course my nosey self had to go look up your rental property.