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. 

@Piper Watson You really need a 680 or better fico to do any real estate investing, with $20k you might be able to find a subject to property, but you would becstuck with the 620 fico.

Wholesale lenders condition like a TRID loan and look at far more than just the subject property. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

I explained to the seller that my offer contained a substitution of collateral clauses and I would be exchanging the note they held on the subject home with a note of similar principal and interest secured by a different property of greater appraised value.

Is it a a subject to?