Self directed IRA is the way to go and looking at passive investment into a fund or individual deal would provide great potential for return with adequate stability when working with a reputable real estate development group

@Quin Weidner,As in any market, it is very important to work with a reputable local expert with knowledge of the market you are targeting.

Honesty is a vital part of having a good reputation. 

Aside from quality work the number one quality I hear is establishing a reputation for consistency between your bid price and the actual cost of the job.

The things to look for are the reputation and experience of the turn key provider, the quality of the renovation, the location and the property management.

I understand that a city like Baltimore has a rough reputation but its all about cash flow for me.

I think some of them the way they do it would get in trouble with their state department of RE for improper advertising.. but that's their issue. so to that end if your working with a marketing company simply ask them to refer you to the state they are licensed in and what their license number is and make sure its current and they are working for a reputable broker.. you want that E and O protection if something go very wrong.. unlicensed folks other than getting them in trouble will offer you no recourse monetarily.

If you are not sure how to do this, find a reputable investor in your area who does deals like this.Lease-Option - Find a seller willing to lease you their home while also giving you the option to purchase the home from them at a future date (maybe a year or two from now).

I am looking for some some quotes from some reputable GCs.

Now you do have to be very selective in choosing your provider, and make sure they are reputable, doing nice rehabs in good areas, and working with, or have in house, property management that excels.Finally there is another route you haven't considered, and one which I am currently favoring in my own investment strategies.