There are several other expenses that you have not listed:- Vacancy %- Lawn care- Snow removal- Utilities for common area (if applicable), Utilities during vacancies- Pest control- HVAC maintenance- Plumbing- Administrative (evictions, bookkeeping, advertising, etc.)- Property management - You should budget for this even though right now you plan on self managing.  

You can take participant loans from the plan, you don't need the additional expense and administration of an LLC to have checkbook control, and there is a built in-Roth component.

I know that was an issue for many of us and we (BP Nation) provided commentary accordingly.One project I could see doing is initiating a NC CF project with the intent of building a public domain platform to simplify (and automate) administration and promote NC CF implementations.

@Ron ReadIt is possible to joint venture several IRA plans into a single transaction, but sometimes the administrative cost and complexity of doing so defeats the purpose.Because the joint venture parties are all disqualified parties to each other, it becomes very rigid, and extracting any one party (such as a Coverdell) is not possible in most situations. 

This article highlights the FEDs letter campaign to shut down some shops that I mentioned before. https://www.denverpost.com/2012/01/12/feds-colorado-medical-marijuana-dispensaries-within-1000-feet-of-a-school-must-close/That was a different administration.  

As you were told above, if you can't get a loan at that point, you'll have to sell.As for projections, we are in a weird place at the moment where the Trump administration is stepping on the economy gas pedal with incentives and tax reforms while at the same time the Federal Reserve is pushing on the breaks to try and slow down the economy. 

Revenues Monthly (Year 1)Rental Income   1,200 (14,400)Vacancy/Loss Rate  5.0% (5.0%)Vacancy/Loss Value  (60) (720)-------------------------------------------Gross Income   1,140 (13,680)------------------------------------------Expenses Monthly (Year 1)Property Taxes Annual  1,158 (1,158)Insurance Annual   755 (755)Maintenance & Repairs Annual   684 (684)Utilities Annual   0 (0)Advertising Annual    150 (150)Administrative Annual   600 (600)Variable Cost PM (% Income)   0% (0)Fixed Cost PM Annual    0 (0)Other 1 Annual      100 (100)Other 2 Monthly     0 (0)--------------------------------------------Total Expenses    3,447 -------------------------------------------Expenses as % of Gross Income    28.94%------------------------------------------Net Operating Income (NOI)   10,233 ------------------------------------------Cash FlowNOI (Cash Available)    853 (10,233)Mortgage      479 (5,752)Total Cash Flow   373 (4,481)Cash ROI    16.60%Equity Accrued   1,583Total Return    6,064 Total ROI   22.46%Cash Flow / Mortgage Ratio   178%Loan to Value (LTV) 80%Rent to Value (RTV) 0.95%Capitalization Rate 8.5%I can't for the life of me figure out how to link my spreadsheets I've got on my computer to these posts. 

I am the administrator of the plan but I have a well known company that was just bought out by a larger company.

In Colorado, and I assume a lot of states, there are administrative things that must occur first.

Have him speak with a third party administrator like uDirect IRA or Quest IRA.