You may not use the property personally or compensate yourself for managing the IRA's investment.It is pretty much like the IRA you have today, but with the ability to diversify into hard assets such as real property.There are several different plan formats and the type that will best suit you will depend on your situation and goals.There is a lot of good content on this topic here on BP, and several participants in the forums that offer self directed IRA services.  

There is a participation cap of $1500.00 per investor, which is fortunate as the prospectus and reporting requirements are pretty loose.

There are also crowdfunding websites like RealtyMogul, Patch of Land, FundRise, etc that allow accredited investors to participate passively in deals they underwrite.Once you figure that out, you can determine your next step.

Just haven't participated much.

Thanks for the post @Perry Ivy  Same situation...just purchased a home and need whole house flooring (all previous carpet was ripped out, so it's bare concrete).  

I was frustrated, I wanted to run when I could barely crawl in this game, and I had thoughts of giving up.

I'm ready to jump into the Buffalo market not just for profit but also to participate in Buffalo's renaissance. 

Regarding small scale rental properties or I believe "buy and hold" is the term used around here (sorry, I'm new to all this).I notice that a lot of investors mortgage properties for 10, 20, even 30 years - whatever it takes to produce a (sometimes barely) positive cash flow.

On the other hand, if you are also self-employed, you and your spouse can participate in the same solo 401k.

And truth be told, it amazes me how much we're enjoying every bit of progress that has happened so far.Looking forward to participating in the BP community and learning from all of the great contributors on the forums!