There are also several new rules to qualify you as "safe place". 

I bet the 3 bedrooms get easily $1200 monthly all day long if not more depending on the condition and amenities. 

So from my calculations, it is only safe to buy 2 properties now and a 3rd a year from now when I get $20k total in my SDIRA.

I believe your best bet is an LLC as you can create an operating agreement that specifically calls out dozens of potential scenarios, cash flow, refi, sales, death, etc which an attorney can help work through easily.

Andrew,Congratulations, I bet you learned a lot of great lessons along the way.

Best bet in my opinion is to clearly describe that there is only one bathroom. 

You're betting on continued appreciation in a state that is becoming less friendly to investors and at a market that has probably reached a peak.

If you want flexibility, I would not collect it to begin with just to be on the safe side. 

To be on the safe side, talk to your lender to verify.

The city (Temecula, CA) I bought in is growing, safe and has high potential for rental due to the job opportunities and military base near the area.