The pros: - not having to do a major renovation from out of state- easier to get a conventional loan since the house is livable vs. a distressed property (would need to pay cash, do a hard money loan, some other type of financing)- can get a tenant in quicklyThe cons: - you don't know how good the renovation is, could be cosmetic without addressing underlying safety issues (plumbing, electrical, foundation, etc). - a home can pass an inspection but once someone is living in it and putting daily stress on the house (turning faucets on, light switches, turning on heat/AC etc), things can start to malfunction.

The higher rates have somewhat slowed down the "get rich quick with no money down" crowd as financing is more difficult, but I still see a lot of new investors with serious cash or purchasing power.

We have several different "types" of properties to include traditional single family rentals, one multifamily rental, lease to buy options with tenants who hope to buy from us, two short term rentals, and some agricultural farm land that is cash rent. 

But the headache: CPA said need to file tax of the SDIRA ; Lawyer who helped to setup LLC said you need not to file tax when you didn't get cash from SDIRA.Do we need to file tax for SDIRA or not?

Interest rates are often a key concern for real estate investors, as mortgages are often the difference between a cash-flowing deal and a dud.

@Daniel ColonThis would only make sense if the property was over a million dollars AND you paid for it in cash.

Does such a thing like this exist, or should we go the SBA cash flow loan route?

Another option is cash for keys but I have never done this but others on this forum have and can probably advise further.

Maybe cash for keys on the one you’re planning to move into?

I'd look into doing a cash-out refi on your rentals.