Unless you invest via an LLC owned by the IRA, you will not have checkbook control over the funds which means you need to run transactions (e.g. income, expenses, etc.) through the trust company who will need time to process the transactions and generally charge fees for each transaction.

Some others like the "control". 

The process is just far less standardized and controlled relative to traditional transactions so you really have to pay attention to every detail and make sure everything is verified. 

I believe you can purchase an Airbnb property using a vacation/second home mortgage with 10% down as long as you have control.  

Select your partners wisely - Realtor, Lender, 203k Consultant, and ContractorREALTOR - it's recommended to work with one that has done a 203k in the past so they know what verbiage HUD wants to be added to the purchase offer contract and how to structure the dealLender - advice you to select a lender with verified 203k experience; the lender is the quarterback in the process, controlling the rules, paperwork, processes, procedures, and if the lender does not have sufficient experience with the 203k, your entire process can look like the Cleveland Browns on a Sunday afternoon203k Consultant - the lender is responsible for selecting the 203k Consultant (refer to Lender paragraph above); this person determines the scope of work and pricing for the projectContractor - strongly advise you to select a Certified 203k Contractor; this person does not set the pricing (see 203k Consultant info above) but does need to know the different versions of the 203k, payment methods, timelines, paperwork, and processes; definitely don't want to work with a contractor who is going to "wing it" on a 203k.

I agree it is a bad idea.You should buy your own properties so that you have full control and can build equity.If you are going to legally manage a property you don't own you might have to be a licensed PM.

As a Controller - I would recommend having someone handle your books that can work closely with the CPA.

Take control of the process by making sure your offer (and concept) is in front of the seller.Also, many sellers in this case don't fully understand how the numbers are in their favor...until they see them in front of them....and, you can't negotiate if there isn't something to negotiate. 

LONGER VERSION ON CHINA:The challenge is China press is controlled by the government, and the goal of the government is to keep power.

The advantages such as being able to collect commissions on your purchase, access to the MLS and control over the offers you make far out way the disclosures@Abel Curiel  Next time you are in the area you need to try other BBQ places as Salt Lick is very pedestrian BBQ for us.