In Florida, Teen killed in motorcycle accident  ( highly suspect that his plan to claim on insurance went awry and strong prescription painkillers involved).Single person occupancy and he was the only person on lease.He was in the midst of moving out, but left behind starving animals, drug paraphernalia, junk.Now multiple strangers are driving around and selling off his 6 vehicles and have been staying in the house after his death. 

If someone were caught drug dealing in 2010 but finished their sentence in 2012, that would give them six years of history to prove they had changed their ways, which should be sufficient for any Landlord.In your case, the guy was honest and admitted his mistake.

Ask your Ira administrator. 

But when TREC finds out about violations, they try to pursue with big administrative fines. 

Make sure they are rock solid in every way, rented, then repeat.....or steal the million and piss it away on drugs and hookers.

Property administration is a testing field.

Otherwise take your time and talk to several custodians/administrators and probably those that do all 3 and also invest in real estate. 

My current vacancy was due to my last very likeable newbie who just got non-renewed for letting bf sell drugs in the parking lot but I have a number of my first place renters that are great.

If you're self-employed, the Solo 401k will provide many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

Usually, public safety wins in these cases, but the NIMBYs  are loud and furious and have the Zoning Administrators on speed dial for protests.