The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

Tighten up your requirements.

I've found an off-market property that would require $175k purchase, $35k down, $20k in repairs, with a conservative ARV of $235k. 

Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

Another option that requires more legwork is to call the servicer/ producer of the inverter.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

I believe the requirement is 25% down for foreign investors.

If you buy an investment property with your IRA, most require a non-recourse loan.

I ended up taking a different path.Also keep in mind some brokerages will require you to pick one or the other.  

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.