She worked for the University, so literally got free tuition if she maintained a certain GPA. 

You want to do those renos where someone will appreciate them and maintain them.

I.e. keep the grass mowed, have some lights on timers (esp exterior lights), and generally keep it looking clean and well maintained.  

From my experience as a Realtor, it really depends, just like any other situation.Is the property well maintained by the tenants and you as the landlord?

My goal here is to figure out how I can pursue private money investors and be able to put that money to work and earn my investors a handsome return while maintaining control of the LLC for my construction projects.

The HELOC is nice because it is easy and inexpensive to setup and maintain, you don't need to give up your great fixed rate terms, you don't pay interest on money you don't borrow and yet it is still quickly and easily available to you for 10 years or so.

., services you can provide as manager are limited, avoid reimbursing yourself for expenses and never pay yourself compensation), IRAs are subject to debt financed income tax if you borrow money (has to be non-recourse -- meaning you can't personally guarantee the debt) to purchase or renovate a property, and There are transactional costs to establish and maintain an LLC that you don't have if you purchase properties directly in your SDRA, to name a few key ones to consider. 

The following activities of a foreign limited liability company do NOT constitute transacting business within the meaning of the New Mexico Limited Liability Company Act:a. maintaining, defending or settling any proceeding;c. maintaining bank accounts;e. selling through independent contractors;f. soliciting or obtaining orders whether by mail or through employees or agents or otherwise, if the orders require acceptance outside New Mexico before they become contracts;g. creating as borrower or lender or acquiring indebtedness or mortgages or other security interests in real or personal property;h. securing or collecting debts or enforcing rights in property securing debts;i. investing in or acquiring, in transactions outside New Mexico, royalties and other nonoperating mineral interests; executing division orders, contracts of sale and other instruments incidental tothe ownership of such nonoperating mineral interests; and, in general, owning, without more, real or personal property; j. conducting an isolated transaction that is completed within thirty days and that is not one in the course of repeated transactions of a like nature; ------------Nor shall a foreign limited liability company be considered to be transacting business in New Mexico solely because it:1) owns a controlling interest in a corporation or a foreign corporation that transacts business in New Mexico;2) is a limited partner of a limited partnership or foreign limited partnership that is transacting business in New Mexico; or3) is a member or manager of a limited liability company or foreign limited liability company that is transacting business in New Mexico. ----------------------------------------* as per note above:b. holding meetings of its members or carrying on any other activities concerning its internal affairs;d. maintaining offices or agencies for the transfer, exchange and registration of the foreign limited liability company’s own securities or interests or appointing and maintaining trustees or depositories with respect to those securities or interests;k. transacting business in interstate commerce"

What credentials do you have and how do you maintain them?

Leases must contain a notice advising tenants that, upon written request by the tenant, the owner is required to provide, install and maintain window guards in dwelling units with children 10 years of age or younger."