Joe, inherited IRA certainly can be rolled over into self-directed IRA.

So long term, in my opinion, I always take higher quality location SFH over multifamily house hacking but if the latter is the most and easiest access point into REI then definitely roll the dice.

I usually connect my investors with my contractor or inspector to walk through the property so that everything can be sorted out in one go, or I have my clients make an offer subject to a walkthrough, allowing us to get the ball rolling.

As they say, you are sort of rolling the dice, you can keep winning 30 times then lose big once and go broke.

@Jennifer Fernéz purchasing a commercial property such as the one you are describing usually requires 20%-35% down depending on the current rent rolls. 

Without big market appreciation (not likely) you'll need sweat equity to keep the ball rolling. 

I usually ask for some form the rent roll/rent ledger showing payment history and some form of proof of payment (I'm a bit paranoid) for the last two months (deposit receipts, bank statements, online receipts for payments made online rent portals, etc.) 

If this is your tenant base then your rent roll may be high but your probability of actually collecting that rent roll number is low.

I supply enough supplies for the first 24 hours, a bar of hand soap, a roll of toilet paper, a roll of paper towels, and cleaning supplies.

@Chris Seveney, If you had paid $20k for a "mentorship" you could have made $100 million by now while working 4 hours per week (The 4 Hour Work Week) while lying around the beach in front of your $10 Million condo and your Rolls Royce with 3 bikini clad 19 year olds at your beck and call.