Another consideration to me, is buy where you know best. 

Charlotte is a tough market for investors at the moment as we have had a considerable rise in the average price of housing as it has become more popular here. 

Wonderful wonderful points that all hosts should take into consideration!

Any considerations?

Hi Elizabeth,Using a  self-directed IRA to invest in real estate can indeed be a viable option, but there are several important considerations to keep in mind. 

Tell the agent to provide you with the all-cash written offer for your consideration. 

Most investors will also take into consideration risk, time invested, control over the asset, the ability to do a cash-out refinance, and other factors.

That way you can tap into your down payment and whatever equity you built to continue onto the next one.If you're going for a 2 family for 600K with 10% down in lets say jersey city heights and not doing much reno, you're most likely breaking even when you move out of your house hack and rent it fully. 

So, after the consideration you give to @Jason Wray recommendations, complete any borrowing before you move out.  

Most investors I know that buy considerable land quantities sit on it for 15-25 years and wait till the demand gets there.