Off market and the new the owner used an agent so I reached out to the agent and made an offer How did you finance this deal?

Of course it is very important to do proper due diligence on the investment and the operator.As far as self-directed IRA there are number of companies offering such service, this topic has been discussed here on the forum many times so you should search using this keyword and learn from those discussions.

Make the offer appealing by highlighting the short-term ROI from his renovation expertise and potential profit-sharing during the partnership.

By focusing on cost-effective improvements, investors can significantly enhance property value.By first Identifying which renovations offer the highest ROI—typically kitchens, bathrooms, and curb appeal. 

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

We now include insurance contingencies in offers for more areas, certainly around Tahoe, but also in other urban interface areas.

I haven’t received the quote back for this place yet, but other similar properties we offered on were in the $4k/year range for insurance.

Your property is similar to mine in great Indianapolis suburb with good schools owned since 2013 - worth about $300,000 (possibly could get a little more if in a multiple offer situation), property tax $6249.

Short-term rentals (STRs) are highly regulated, particularly downtown, so areas like Mount Pleasant, James Island, and North Charleston may offer more flexibility.

I put 20% (54,000) and then an additional 7% of the loan amount ($15,000) since the bank only offered 93% loan of the purchase price.