I'm looking at a nice home Friday, so if I like it I will probably post a follow up question about logistics. 

Sometimes the simplest, stupidest logistical nonsense keeps the buyers who want to see your place from getting in.

Better to stay close to the place I already own, or branch out and deal with the extra logistics of property elsewhere? 

Such a vehicle is designed to operate from a tax perspective exactly like any other IRA, and simply opens up your investment choices to include things like real estate.  

At that point you have a general partnership and 1065 obligation.If you're doing that, it may be advantageous to take it one step further, form an LLC and write your mother into the operating agreement as the functional equivalent of a limited partner. 

I have a rough draft of an operating agreement that I drew up with my partner and I would like to have it reviewed.

Operating agreement for LLC5.

Does the 1% or 2% Rule come into play before subtracting operating expenses from monthly income or after?

Unfortunate to hear about your experience with them.I met with Oscar and a few other people in their office to hear about their business and operations.

So we decided to go for it.The property was operated by a mom and pop operator, who had taken great care of the property, but had allowed most of the residents to pay minimal rent.