Likely not.A self directed IRA is an equally viable means to diversify existing retirement savings into real estate, and you do not need to change plan formats if 2-3 years down the road you get tired of dealing with eBay and are no longer self-employed.The IRS is not specifically targeting self-directed retirement plans.  

So I have been doing quite a bit of researching on market cycles, more specifically emerging markets.

Most of this piece probably won't focus too much on specific deals, but rather, on my experience throughout this (ad)venture, starting out as a reckless and aimless 22 year old. 

It really helps me to be as specific as possible when setting a goal.

(I'll list some books below that are great to start with) Joining your local REIA is a GREAT way to get into the world of investing for your specific area.

Send them a flyer with the specifics of the house.

AllIt looks like there are a number of people from illinois and specifically near the fox valley region!  

I am looking, specifically, at using the 203(k) loan program through FHA for my first home purchase, and I am doing research as to what exactly that process would entail, or whether there might be a better option for rehabbing my own first purchase, post-closing.I live in the Maryland suburbs of Washington, DC, and am originally a native of Baltimore, MD.

To this end, I will have multifamily designs that  I will execute in specific markets as a proof of concept, for both the viability of construction, as well as my ability to manage and maintain a multifamily asset. 

Main difference is I'm about 8 years earlier than you on the real estate journey line.If you see me at the Meetup @Kevin Fox mentioned, please do say Hi ... or feel free to reach out if you have any specific questions you think I could help with - I'm by no means the longest running B&H investor here, but can provide plenty of opinions and actuals data based on various types of property in the area south of 52, north of 94, and west of La Mesa.Good luck!