About a year ago, I found BP and started researching how to properly fix and flip houses.

@Erik E. in most cases I recommend people pay as you go.

You can juice up any deal with a high down payment and it will produce cash.  

Guardrails are weak and loose , overspanned and only 36 inch tall.CN073014Failed to maintain exterior door in sound condition and repair. (13-196-550(d) and (e), 13-196-641)Front entry door frame rotted, with flaking paint and worn finish .CN077014Failed to maintain fence in good condition and repair. (7-28-060, 13-196-630, 13-196-641)Rear wood fence and gates, rotted, leaning and loose with worn off finish .

They still require you, the investor, to conduct proper due diligence and to keep your head on in case any challenges arise.

Then the property title would be transferred into the LLC, thus giving you checkbook control over this and any other assets you will purchase in it.Here are some of the Checkbook IRA benefits:Ability to execute transaction directly without going through custodian or IRA Administrator, simply by writing a checkEliminate transaction fees and asset based fees (you will need to pick the right custodian with proper fee structure, the company you will chose to do this for you will help you make that selection)Eliminate delays and 'red tape' that often comes with having a custodian handle every single transaction, you can act on best investment opportunities immediatelyHope this helps. 

No schedule E now what

I found something called Section 8 housing which can be very bad for investors if tenants are not screened properly I understand even with proper screening you will still get bad apples.

@Aaron Deane Many of the answers you are looking for can be found here:How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesGood luck!

Thanks, @Michael Garofalo  What you're saying is that as long as my properties properly cash flow, a downturn shouldn't hurt things too much outside of an increased vacancy rate?