I'm not built for that, but here are a couple observations.  

If I'm going to play soccer, I'm researching the field, observing players in warmups, ensuring I'm in the best possible shape to be successful, etc.When it comes to investing, you have to ask yourself if you are going to have a cement foundation up to the standards required in the state of Florida, or if you're going to have a house of cards.

The best thing to do is sit and observe a real pro paint woodwork.

Hey Mike, I would love you observations on companies like this one below: https://www.nuviewtrust.com/5-ways-to-start-lending-money-from-a-self-directed-ira/

I also observed what they call a "rubber fernco" in the picture you've provided.

However, this is just a general observation I have had with my properties.  

At the bottom line, I'd be willing to wager that very few of these rules are observed in practice, which makes this a more dangerous (or at least useless) entity for the novice.

Excellent observation!

I was just there as a observer but my friend there was a bidder.

The better way for references to work is for those you know to supply referrals; at least you know the person that made the referral (so less likely to be BS), and so you can go and observe completed work.Just my $0.02 worth ...