IMHO, NAR should prohibit "wholesaling" in the code of ethics.  

@Pat ReillyYou are mistaken in your understanding of the rules.The IRS does not prohibit an IRA from investing in a transaction that would be considered a flip.  

@Jeb Shookman,How cost prohibitive would it be to get the city water?

Cost prohibitive and no linen service) and claiming per the condo declaration the developer has exclusive rights to housekeeping since it's a condo hotel and will not allow us to hire cleaners given his exclusivity. 

You will not find the (very subjective) information in the MLS if for no other reason, licensing laws prohibit it. 

Any laws prohibited a 4 families (some of them related) occupied in a SFH in Texas?

Your IRA can partner with your friend, but partnering personally with your IRA will likely result in a prohibited transaction. 

While undergoing the compliance training I came across one of the prohibited outside activities for bank employees- "acting as a real estate sales person, broker, agent or engaged in buying and selling real estae except for primary and secondary residence".

If that "partner" is a spouse there are some other factors to consider, such as prohibited transactions.

Also, the reason folks like Schwab don't want to be in the business of SD-IRAs is that when you have checkbook control of the LLC, you can very easily make a prohibited transaction and the IRA will void the IRA and you will pay all the tax on it at once.