Also keep in mind that those on a visa are held to a higher standard to keep that visa.

Either you make more and they make less, or visa versa.

Which is one of the reasons we do not participate in this program and also why voucher holders are often limited to finding only poor choices for rental properties.Gail

You mentioned a ground lease so I assumed you have a leasehold interest and at some point it expires and the fee holder would take back the property and the improvements.I have done two condo conversions and the first attorneys wanted to charge for 1031 exchanges and some paid for it.  

When that happens, I'm assuming that the property will need to be refinanced so that my SDIRA is not the note holder of the property..

Basically he has an automated system that does all the legwork and you get paid a fee for being the middleman between a note holder and note buyer.

Robert even then the bank and ALL junior lien holders have to approve the purchase price and what amounts they will release a lien for. 

If your goal is cash flow (in my opinion) you're better off trying to buy with owner financing (contract for deed - land contract, installment sale, mortgage wrap, promissory note with a first lien holder position on the trust deed for the seller (if they own it free and clear), or sub2.

While some would hope they don't get caught during the option time period, the ethical thing to do would be to approach the loan holder and get approval to continue with the status quo until the option exercised.  

I thought a short sale was when a mortgage holder sold their property for less than they owed on the mortgage.