The individual purchase prices were adjusted so the IRA was making a "bad" investment, but a good chuck of the IRA funds were able to be pulled out through the transaction for use and multiplication today.  

But I'm invested in 2 markets, so it's hard to manage the one that is 8 hours away from where I live.This is a question that I think will be different for every single individual.

Units are all electric and have individual panels, water heaters, and HVAC systems.

I was looking to do the project with one general contractor but am founding that it is easier to find individual local tradesmen (Hvac, plumber etc).

Commercial loans do NOT impact your DTI when buying as an individual.

Income earned by a retirement account will not be reported on your individual return.The way it will impact your return is when retirement account funds get distributed to you personally. 

We considered forming an LLC and sharing capital that way, but we know that lenders prefer to loan to individuals rather than LLCs with no income.  

But there could be individual circumstances where a hold period of less than that might be appropriate. 

I have more in the early stage than I will in any individual unit.The insurance is pricy as well.  

Google "IRS EIN" for the link or go to https://sa.www4.irs.gov/modiein/individual/index.jsp (current link today) Remember that every year you have to file a "no tax due" or your account becomes in bad standing (that happened to me once when I forgot).