I don't have any experience with self directed IRA's (I am sure I can figure this out), but was more concerned with the tax ramifications of using a self directed IRA to flip a contract. 

That would be my biggest concern.

I am concerned about using banks title company.

@Andrew MajorI am very concerned about what kind of housing 'solutions' the state legislature is working on right now.

Looking for recommendations for good real estate attorneys in Mobile, Alabama

Other times homeowners do not like the look and aesthetics are a valid concern. 

If you have concerns, who cares if its frowned upon.

We had to keep an eye on basis, make sure each owner had an equal distribution, and keep the banks happy with the amount of equity to asssets so there were outside concerns but for rental I’ve never had to worry about those things. 

Purchase price: $15,000 Cash invested: $8,600 Sale price: $74,500 2000 mobile home; 1152 sf; 3/2; 2.88 acresWe did minimal rehab - replaced a toilet, painted, replaced carpet with laminate flooring.

Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.Is anyone on this site still playing in the New Jersey speculative market?