Now that the horse is out of the barn (so to speak), the issue is best discussed privately with an attorney who is familiar with self-directed IRAs. 

Just trying to quit the rat race!

You can check with a attorney if you like you are not to even ask him on your rental agreement , can not ask sex age race and if felony only on a job because you come in direct contact with that person and i think thats says convected of a feloney in the last five or ten years from my attorney but check for your self.I also looked at the lease agreement on BP and none of them have it are state it  , please check for your self and do your home work as BP family all ways says your due diligence on the matter.

Deed restrictions have been made that are now in violation of Fair Housing Laws, restricting ownership to those of a certain race, religion or some group (with exceptions) and such are no longer enforceable. :)    

Erie race track, Batavia downs) nearby as well. 

Becoming a passive investor and "getting out of the rat race" is a worthy goal.

Good to hear that you are on way out of the rat race! 

I would only buy to flip if the property had enough land for horses or has historical significance/character.  

2007 Toyota Tundra - my work horse I got in 2009 when I got serious about REI.  

Investing in real estate is not a race, time is not precious as there will always be properties for sale.Get yourself fully educated and wait till you have the money, reserve funds and credit to succeed.