Hey @Tejas Paruthooli - This is for sure subjective and depends on your risk tolerance and budget. 

Significant improvements excluded were homes that after the 2017 sale were torn down and built new, large renovations, additions added, extensive deferred maintenance addressed. 16 of the 152 homes were excluded leaving 136 to further analyze.Obviously there is some subjectivity in determining which homes had ‘significant improvements’.

Subject house math:-Purchase: $200k-Closing, rehab, to date carrying costs: $65k-ARV $400-425k-Rent $2900-3100-Taxes $9k a year-Insurance $1500 a year (Estimate)My math works out that if I refinance and pull all my money back out (LTV ~62%) I will have a total monthly cost (Tax, insurance, P&I) of about $2450 leaving roughly $500 cash flow assuming I manage the property myself.

Also if anybody has any suggestions on books to read on the subject of HELOC financing or any similar methods I would greatly appreciate those recommendations as well!

Memphis is a block by block city, so be careful to get your comps from very close to the subject property. 

Find a property that the seller is willing to finance for you, take a mortgage over subject to, find some investors willing to put the money up on a great deal.I am confidant that you will figure it out. 

What would be the % or $ figure on a Subject To take over on existing loan on tenanted rental property ?

@Yi Chu,Another important factor you need to understand is that when an IRA is invested in leveraged real estate (most MF deals are), the portion of the income derived from the leveraged portion of the property will be subject to Unrelated Business Income Tax (or UBIT), which can be offset by using depreciation and other deductions.

You are subject to failure to file and failure to pay penalties.

I've posted on this subject quite a few times, feel free to check out my previous posts but your objective as a real estate investors should be to avoid claims and what you are proposing offers no greater protection than owning the real estate in an LLC in the state where the property is located or where you reside.