So, I'd like to remove fans, garbage disposals, etc to reduce calls and items to replace.

Does grass grow easily, or do you have to water frequently?

I am a big fan of diversification and with such a large chunk of starting capital, you could easily split it up into many buckets and deploy them as you see fit.$100K- REIT investment: will generate pretty stable dividends, you'll need to pay taxes on the gains though, and appreciation will be very limited.$100K- out of state turnkey purchase(s) $100K- Bridge loan funding.

But I didn't do that because we don't want to move frequently and do like to maintain our residence to our standards rather than be subject to a landlord's investment decisions.Cheers!

This would get me started, get me learning how to be a landlord and get me building up some equity as I'm not a huge fan of a lot of debt.b.

This structure is designed to provide you with checkbook control, as the IRA will own the LLC, but you can control the LLC as the non-owner manager.They use an IRA custodian (not sure who these days), but the custodian is very much in a back end role.The IRA LLC model is beneficial if you will be engaging in investments that are either time sensitive in nature or require frequent expense/income transactions, as you will be able to directly transact via the LLC and a bank account of your choosing, without having to go through the IRA custodian to process each and every transaction.  

@Jeremy KarjaI am personally not a big fan of turn key investing because it returns are better if I do it myself in my local area.

Hi, Michelle,We frequently buy materials (tile, kitchen cabinets, bathroom fixtures, countertops, light fixtures and ceiling fans) as well as appliances on Craigslist.

I give my tenants choices all the time, in fact at lease anniversary time they can choose 1, 2, 3 year lease, new window air conditioners, ceiling fans, paint….. but I show them their rent will increase based on the improvement option they choose.AC is a big one: so I spend $150.00 on a window shaker, divide that by 12, add a service charge for the install… and viola’ we have a new number to add to the rent.

A new ceiling fan, new light fixtures, a built-in microwave (if one is not already there), or a carpet cleaning.