IRA's have to actually invest a significant amount in an asset. 

We will have liability up to 1M on the property.My questions stem from loan/Asset Protection.If we were sued, and for the sake of this discussion we are sued and lose $2m, would we only lose our $1m (insurance proceeds) and 20% capital (assuming we have to sell the property). 

@Michelle Grippo, a 1031 exchange would allow you to sell that property and put the money into different assets that produce a better return without paying tax. 

The short answer is yes, you can invest assuming you have some capital and use a hard money lender that lends on the asset itself only, not your credit score. 

My lender couldn't have cared less about assets for my fannie loan, which I thought was weird. 

I would propose either an LLC or Series LLC depending on the volume of assets you are holding at any given point. 3.

Your biggest asset right now is local knowledge; maybe time to lead with that card.

LoI is one way to make an offer on a commercial asset. 

I'm particularly interested in cash-flow assets however wouldn't turn down solid appreciation. 

Without a job, if you have cash and a good enough deal, you may find an asset based lender to fund the deal.