You investing in a mutual fund and your IRA investing in a mutual fund are also different from a tax perspective.What you can compare in a meaningful fashion is how the IRA itself might perform in two different assets.  

If I could find more favorable financing,, it might work.

Honestly, if you can get land in the path of progress, at favorable rates, and have a long time horizon (5+ years), just close your eyes and go for it.

Or should I do old-fashioned marketing like direct mail?

Or should I do old-fashioned marketing like direct mail?

If you're looking in any major market in Texas, this is only amplified because Texas seems to be the preferred stomping ground of many investors due to the favorable laws. 

@Leslie Mangrum We accept rent via all of the ways you mentioned but if someone is going to pay in any fashion but online through our website we make them mail it to us or come physically drop it off at our office.

The realtor wanting to change all the light fixtures and doing so in a sneaky fashion would make me want to use another realtor.

Keep your head up though and keep playing with numbers until they work in your favor and you'll at least know what you can bid as a purchase price.

Otherwise you would need to apply for a Personal Line of Credit - and those aren't permitted to be used in this fashion for traditional lendingDo shell properties have value - I guess.