There are a number of strict rules you must follow with self directed IRAs.Another option, and maybe your best option if you are still employed by the company that sponsors your 401(k) plan, would be to take a loan.

I will convey to the lawyer to be strict and get rid of the guy ASAP.ThanksRon

This will strictly depend on your situation and what you want accomplished by forming an LLC.

My strategy is strictly buy and hold focused on rentals so take it for what its worth. 

In the last 2 months, I've realized (while asking myself where to start) that the more I posted and asked questions on BiggerPockets, the quicker I learned and the more I learned.Shorter version of advice:  I cut out TV and sleeping in from my daily routine and replaced that time with real estate books & podcasts.  

Changed the routine up this week.  

Many associations have strict rules and fines about roof access. 

You may want to also pull out statistics in project cancellation/project shutdown due among other things, State induced strict compliance to the letter, contractor's compliance and liability costs (biggest reason why significant California contractors are put out of business aside from tight competition), it's just next to impossible to earn contractor wages based on economic conditions (that being current prevailing economic depressed consumer wages cannot support re-construction costs or that wages to property modification ratios is not sustainable in long term basis), indicators, and indices (unit labor ratios, material integrity and application ratios, Local, State, and Federal (labor, occupational hazard, environmental) compliance costs, and certain and uncertain risk factors.

I will like to use this option but my concern is what type of options are for me to sell, whether I can sell by Lease purchase, Lease option, or just strictly Rent the property.

There may be some Code Violation Agencies you can report this activity to which will start with fines; as this likely violates local code.Talk with a local LL/T attorney for more information, as they routinely handle disputes between Owners and HOAs.I would not, however, recommend dumping your refuse on the steps of the HOA office, as that could result in liability.DISCLAIMER: NONE OF THE ABOVE IS LEGAL ADVICE, BUT INTENDED SOLELY FOR EDUCATIONAL PURPOSES.