Or they are buying a 4plex or something like that and then a 4 plex the following year etc. 

You have to consider number of factors before doing this, the property would have to be appraised and would be added to your income for the year in which you make the distribution, likely pushing your tax bracket up.If you simply wish to get into self-directed investing you may want to consider truly self-directed Solo 401k, it has number of advantages over SD IRA such as contributions limits 10X higher, no need for a custodian, checkbook control, exempt from UBIT on leveraged real estate and more.

For instance, I follow the 1% rule with my investments, and that's getting harder and harder to meet in Myrtle Beach. 

They have a tendency to be a little more independent and not necessarily follow typical federal standards at the state level. 

@Derrick Gordon I"m not sure I follow. 

Hi BP,I have been following the podcast for a while now, reading books, informing myself.

I am following the info in BP's guide to screening tenants, but I would like to know what experienced landlords do if you receive applications from multiple qualified tenants? 

In highly distressed properties like this one, I have said the following more times than I can count.

This is why it is critical to pick a high-income generating field OR follow your passion but not get into student debt (can't have it both ways). 

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