If an IRA investing in a mortgaged property produces better returns than that same IRA is producing today in terms of both principal security and return on investment, then that is a good investment for the IRA.There are other ways to invest an IRA that may not look so negative to you as compared to what you may be able to do personally, but then the IRA is not you - it is tax-sheltered retirement savings for your future self.  

Appraisers are slammed and not always producing the most accurate reports, so you need to be willing to pivot if you get a bad one. 

About meTop Producing Real Estate Agent for last 3 yearsHave a experienced flipped mentoring me Read everything I can get my hands on about flipping :)Tend to be a bit risk adverse with my numbers

They are all benefits of investing in real estate in general, and would apply whether investing directly or via syndicates in any income-producing real estate asset class. 

A great learning experience, cash flow producer, and fantastic addition to my portfolio.

That combination of factors is what produced a wave of foreclosures.

@Aloysius Gunawan unfortunately the NE would produce about as much cash flow as Denver or Brooklyn, which is to say not much.

Big cities like San Francisco still have tech companies that are producing a some jobs.In a Post Covid world, more people will have jobs that will allow them to work from home.

I would look for a W2 job within the real estate field - property manager, project manager, assistant to either of these positions, acquisitions manager, executive assistant to top producing agent, etc... 

If you are a high producing agent, you can have a very high split with a big brand still.