Rents per unit are about 1K for long term tenants, although I'm likely to do STR or at least a combination of the two.

So, you need to be sure it makes sense as it does not always do so.Also, keep in mind, line of credit are for short term cash needs NOT long term for example a down payment on a property you plan on keeping for the long term.

@John CavaI missed a key point of your original question, but it goes back to discussing valuation with your custodian.You will value the property to get the new value.The IRA at this time will own 90%, so the valuation the custodian cares about is that 90%. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $118,000

Cash invested: $30,000

This is a single family property this is rented by the room. The entire house is fu...

You are doing all the right things right now in terms of gathering great information.

In terms of sellers, I plan on negotiating with them directly with no agents.

But what jumped out to me was the immeasurable in terms of dollars:“But our family has grown!”

Does anyone have a long term relationship with them who'd care to comment?

It sounded like another term for assumable mortgage, but I appreciate the clarification.

Find a lender who understands your long term real estate goals and understands that rental income can help knock down your DTI to qualify for more loans and acquire more properties.