This method will be less expensive however you will need to provide more training/guidance and set clear expectations on what you are looking to achieve.

Substance generally rules over form in legal matters so be sure you know what liability you're assuming by playing this role and what you should justly receive in trade for the liability.   

This is my first time doing the brrrr method but i own a triplex. 

Such plans have different architecture to facilitate non-traded assets like real estate, stock of privately held companies, etc., all of which an IRA can invest in per IRS rules.The key to understand is that the IRA is the investor, not you personally. 

Most BRRRR method properties will be around 200% return. 

Just looking for quick and dirty estimates for now, but I'm definitely open to recommendations on other methods to get more specific numbers.

He’s very handy, a chemical engineer by trade, and loves numbers. 

Jobs will rarely give you the kind of money you need to invest, but if you can mix hard money, crowdsourcing, business credit, and one-to-one private money, you can focus your attention on buying houses below market value and either flipping them or rehabbing them, renting them, and refinancing them.I prefer the second method because it allows me to keep a flow of cash growing behind me, but to make it work you need the best deals so you never have to leave your money in the deal.

I'd also say the layout of the units will have a lot to do with how successful the rent by the room method would be. 

Curt,You should have the contractor who is doing the work have General Liability and Workers Compensation coverage regardless of their trade.