They are exceedingly rare, thus very expensive, but I believe they represent an excellent long term steady income and store of value.  

It lets you focus on managing the property and getting steady income right away.

If IRA owns the property wouldn’t all rental income have to go directly into the IRA?  

I have two LTRs and want to get a STR to offset my W2 income.

The risk of "piercing the veil" applies more to LLCs when personal and business finances are not properly separated, not necessarily to individual landlords renting a portion of their home.A more practical approach is ensuring you have a solid lease agreement, sufficient liability insurance (including an umbrella policy), and properly reporting rental income and deductions on your tax return (Schedule E).

You can also think about a strategy that combines a house hack with a "live-in flip" where maybe the duplex isn't in a condition where you would want to live with your family when you purchase it, but you could do value-add renovations that improve your families day-to-day living but also the value and rental income for when you all move to the next property or sell. 

., depositing rental income into a joint account) could convert them into community property, exposing them to your spouse’s liabilities.

Here is some clarification:When property inside of an IRA is financed, it generates UDFI (Unrelated Debt-Financed Income), the income derived from the leveraged portion of the property. 

In my case, all three sellers were older and tired of dealing with tenants, but they liked the steady income.

This way, you build income-generating assets first while keeping future options open.