Risk of an investment property has less to do with LTV than it does to do with pure cash flow.

It isn't very good as a pure rental either; rent of $1200 and mortgage of $900 (+taxes & insurance).

This is also a home I plan on using quite a bit, so not purely investment.

@Ray Li,  Purely based on what I read here, I am thinking an option could be -  ( Please consult appropriate authorities before using the strategy ), The SDIRA you have will invest in your or your partnership entity that does rehabbing. 

Was thinking of visiting in July but I'm not sure yet I'll be able to make it.Are you looking for a place to retire, use part time or as a pure investment?

Yes and yes.FYI -- I have a 3-video course called the “WHOLESALE ACCELERATOR” (with sample contracts) that I give to colleagues for free (pure training, no sales pitch).

The school information is purely anecdotal from friends who live in the area and from a friend who is an administrator in the district.  

Just rent it for a year (pure profit) as rent to own taking a one time option fee, with sale price in the option agreement set to:  determinied at the time of closing by an appraisal.  

Buying the property you are going to live in is very different than purchasing purely as an investment.

Batteries.