After all, you're trusting someone with your money, and you have NO control.

Probably cant control the lighting as great. 

In order to have checkbook control, the IRA account will need to be at a trust company that will allow the IRA to invest in an LLC (where you will be the manager and your IRA will be member - an as manager you will have checkbook access to the LLC bank account).

What do you think of Gardena, CAI don’t want to invest in Los Angeles due to the rent control and evictions laws.What are my others City options?  

was their Legal Dept drafted an addendum which if we go on our own, we plan to incorporate into a new Lease, which Tenants already signed, at least acknowledging since they didn't notify us, they agree to limit number of kids (some of our neighbors are pissed off about the traffic, but we explained to them our hands are tied). 

Monthly assessments eat up profits.Special assessments pop up all the time.HOA can control you who can and cannot rent to, severely limiting your tenant pool.Don’t invest in condos

Would you finance a stranger who doesn't own or control a deal?

You don't want to allow the seller to control the paperwork flow of the transaction.

Quality control is very important in our business!

I'm not sure how old you are but you must recall college life, particularly off campus living. just a few concerns:  furnished units have to be covered on your insurance which will effect your premium.you gotta be mindful of damages to the furniture in addition to the rest of the place. not everyone will havesticky fingers but be prepared for the occasional theft during transition at the student occupied units. the bedbug epidemic comes into play particular with the more traffic. again, its my coin. feel free to disagree.kudos,Mary