@James E. 

So, put simply, Fannie and Freddie facilitate financing/liquidity to this market, focusing predominately on single-family mortgages and multifamily construction.

If the IRA’s primary asset is illiquid real estate, the investor may be forced to sell at an inopportune time or take “in-kind” distributions—which can be complicated and costly to value.Note: A Roth IRA avoids RMDs, but this doesn’t solve the prohibited transaction, UBIT, or liquidity concerns.

@Eric E.

Lenders typically look for experience, liquidity, and a solid track record when funding new construction projects.

I agree with @John Underwood @Tom E..Get with your CPA so you understand the rules of depreciation.

Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 

He is not spamming people with his surface level knowledge e-books and creating passive income on linkedin.  

And I liquidated 30% of portfolios.

Also since you’re estimating a 6-9 month build, a construction loan could help preserve your liquidity in case timelines stretch longer than planned.