If the HOA does not expressly prohibit renting the property or from having a bunch of people staying in the property, you just need to figure out a solution for the parking that doesn't annoy the HOA and the neighbors.Mike

With all the rules associated with it and the lack of available leverage (non-recourse), the better use is doing loans and/or JV partnerships with other rehabbers, builders, etc.You must obviously learn the ropes of lending and how to protect your capital, but you have better advantages this way.Holding RE in your retirement account will result in the loss of available leverage, the loss of depreciation (it is already a tax advantaged account and paper deductions are one of the greatest benefits to buy and hold RE), and the rules you must follow to not engage in any prohibited transactions are cumbersome involving buy and hold.Let’s use an example of buying a $50k property and let’s say it was already repaired and has a gross monthly income of $1000.

It's something about the soil that eats up the tank.The tank is under concrete which makes testing the soil more prohibitive.  

Or to prohibit contingencies on a non-licensed contract.

Make it clear in your lease, that use of the pool is prohibited.

This is a SFH, but I checked the zoning laws and it doesn't prohibit the use of airbnb at all.  

Do you find the high market prices and tax rates prohibitive where you are located?

If a family member puts a lien on the house using his self-directed IRA, depending on your relation to the family member, it might be an outright prohibited transaction for you to pay interest, or for them to sell you the property.

@Wade Sikkink  Unfortunately, Texas law prohibits a second mortgage on top of a cash-out refi mortgage, which is what my loan is currently.

But Costa Hawkins only exists to prohibit that discussion from even happening, by giving cities (almost) no say in such policies.