If you maintain 1st position lien, have a sound legal document protecting your interest, Insurances in place and due diligence on the borrower (& the asset), you would be in a much safer position than as a LP in a syndication or just plain investing into Stocks/Bonds/Mutual Funds/ETFs etc. that are completely out of your control and not something you have any risk mitigation against.

You can have controls placed on exterior repairs, renovations that up  a lot of time and money.

I have been looking at many connected devices that let you know, if there is a leak or if the sump pump is malfunctioning. 

What about water/sewer, trash, lawn care, other shared utilities, pest control, and admin/professional fees?

This is nothing more than the asset performing, same as a stock going up in value or receiving dividends in a ROTH.If your Roth has checkbook control and is in an LLC the state may send you something saying that your LLC hasn't filed taxes.This happened to me.

Create a business, generate Earned Income & do a 401(k)-solo with check-book control.

There is no "rent control" on the properties, but you cannot raise the rent above the income level of the tenant.

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.

On January 1st, rent control was enacted state-wide. 

We created a the holding company that controls our other LLCs.