Yes, usually you set up an llc entirely owned by your self directed ira. 

These are usually unlicensed brokers.

Although ideally you can control costs by paying materials directly, I’m not opposed to a small down payment (20-30%) for a larger job which translates to their materials and a setup usually. 

When folks tell me about success and they got ( cash now), they usually also invite me to a Party :). 

It wasn't usually him giving us information but him connecting us with resources, more experienced investors, basically him teaching us how to fish.

My experience (East of the Mississippi, at least), is usually in the range of 65-75% LTV. 

That means If you do find a property with the 1% rule being followed, the numbers usually make sense.

Where does your surplus usually go?

This is where PM company usually comes in.

To control my time on the process, I usually post it on craigslist and don't meet people individually.