Request the "official" version, from their accountant, which is filed with their tax return.Other than that, a good property inspector should point you in the right direction as far as what areas could give you problems and what capital improvements you should make to avoid things breaking up later.

Hopefully Indy can use some of the problems Baltimore has gone through with the program to make improvements to the system. 

Those are what will point the right direction for you.The way you protect yourself from a market downturn is to vet the market to make sure it is resistant (i.e. not single industry as Detroit was), vet the neighborhood (improving?

How much improvement are you planning to do to the lots?  

Over this, into 5 units and up, is where you head into commercial lending.Our family has occupied fixer houses and improved them while living in them, and then rented or sold the houses after a few years.  

We've even seen a .25-.375 improvement in MBS prices since close on Wednesday.But, I'd like to draw attention to the Fed's own projections for the median funds rate over the next 3 years. 

So, the tenants’ credit scores should be improving as they rent.

At that point, I will re-evaluate what I do with it (as one would do with any investment).2) I have no intention of building on or improving the land while the LLC is owned by the SDIRA.

Side by side feels more like your own space versus having someone clomping above you or having to walk up a flight of stairs to get into your unit.

The work doesn't have to be showroom perfect and I'm always amazed at the equity that can be created by making necessary improvements without paying retail.