If it is preferable to have someone that has a good rental history w/references then you would eliminate those who do not have any via your process. 

This allows you to directly manage transactions via the LLC and eliminates the paperwork, processing delays and per-transaction fees of the custodian.

This allows you to directly manage transactions via the LLC and eliminates the paperwork, processing delays and per-transaction fees of the custodian.

With such plan you don't need a custodian or LLC, but get "checkbook control" and eliminate the "middle man" and all custodian/transaction/asset based fees.

This allows you to directly manage transactions via the LLC and eliminates the paperwork, processing delays and per-transaction fees of the custodian.

This allows you to directly manage transactions via the LLC and eliminates the paperwork, processing delays and per-transaction fees of the custodian.

You can you passive losses to neutralize/eliminate passive income.

I have done more research and found a company that creates SD_IRA Trusts vs IRA LLCs.Through an IRA Trust with checkbook control, additional transaction fees are eliminated as well as annual IRA LLC maintenance and filing fees.Here are two article on IRA Trusts:http://www.pgiselfdirected.com/2017/10/02/using-an...https://www.iraservices.com/when-to-consider-ira-trust

I hear 1031 exchanges are the way to go but it doesn't eliminate capital gain taxes.

If you get info from the previous landlord consider it a bonus, not a necessity.Remember in this business you will never eliminate risk, only mitigate it as much as possible.Good luck.P.S.Give this a read,you may find some good tips in there 5 Landlording tips from an industry PRO