I would second the 'check book control method' 100% - BUT you must really do your homework then to avoid 'prohibited transactions'As a side note, if anyone reading this is trying to figure out how to invest with with people who are 'disqualified parties' (certain relatives mainly) it CAN be done, I do it, but it is VERY specific how to set things up.

So a sponsor that's great for one investor will probably be terrible for another (and vice versa).I'm a conservative investor, so when I invest in multi-family I prefer sponsors that have at least one full real-estate cycle of experience, little to no money lost, low leverage, and high skin in the game.And there is an apartment operator that has multiple real estate cycles of experience (decades) with no money lost, low 65% less LTV, and high 10%+ skin in the game.They market under 506B so are prohibited from posting publicly on the Internet and instead function by referrals.

You can use leverage to buy rentals in the IRA, but won't be able to use conventional financing because IRS rules prohibit that so you would have to use non-recourse financing.

Partnering with your IRA most likely will be considered a "prohibited transaction".

It would be a complete waste of closings costs and only a couple of lenders have no prepayment options on DSCR...unless you're in a state that prohibits them.

Perhaps I'll find value in a Rental Property purchase instead.CA state law prohibits a jurisdiction from requiring owner occupancy (OO) on a traditional ADU or the primary dwelling associated with it.CA state law does allow requiring OO on a Junior ADU (JADU).  

@Paul Cox The article you mentioned says:Fannie Mae issues ruling on renting newly-purchased second homes on AirbnbThe update clarifies that homeowners can rent out second homes after 1 year of ownershipNational /April 19, 2019 12:00 PMTRD StaffSecond-home owners who want to rent out their properties will breath a sigh of relief, and perhaps make a bit of cash.A newly rewritten document from Fannie Mae suggests homeowners and lenders may have been misinterpreting rules around rentals of second homes since 2001.Fannie Mae’s April 3 clarification of the “Second-Home Rider” shows that homeowners are allowed to rent out a second home after one year of ownership, and that short-term renting during the first year is also permitted under specific conditions, the Wall Street Journal reported.Previously, the rider had been interpreted by many owners and lenders as saying that second-home owners with mortgages backed by Fannie Mae or Freddie Mac were completely prohibited from renting their properties.

*The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

That said, many HOAs prohibit subletting or short term rentals or multiple units.  

It may sound great for you, the landlord, but it may be a prohibitive factor for applicants to even apply.