No great losses, but no great gains either.

@Ray P.Be careful with phrases like "promissory note to myself" relative to using a SD IRA...typically you cannot directly benefit personally when using a SDIRA, all transactions have to be done in the IRAs name.With 15 K, I would probably:- Leave it, invest it as best you could with stocks.

Kerry Baird that is true, but not sure the benefits make their way to all parts of Titusville... what's available in Cocoa Beach, Cape, and Sat Beach tends to be unrealistically overpriced.

So if the numbers work, and he price is right ( my All-In costs ) vs the ARV and their's Immediate Equity gained once I sell the property, then why not do it ?

If the stock market were to see annual gains of 20%+ for a few years then a large number of people would stop being Saturday afternoon landlords and start being 'stock gurus'. 

My wife passed her real estate exam recently in hopes of utilizing it to our benefit in future real estate deals (though she has not yet picked a firm to work with).

By stage 4 when the subdivision is almost finished you tend to have the least equity gain buying then. 

I enjoy dealing with businesses specifically retail properties.My transactions make me more than enough cash flow yearly so I do value add retail and new development for large equity growth gains on the back end.If someone makes 50k,70k etc. per year then buying a SFR can make sense over time.

Some people put a lot of value in appreciation and the tax benefits. 

Did not get the retirement benefits I should have.