Currently most interested in hard money lending and non-performing notes.  

Your IRA can lend it to other investors, it can partner with other investors, it can buy notes that are performing or non-performing.

Just keep in mind that looking at the real estate cycle is entirely focused on past performance.

Even if there might be a loophole, I'd sue for performance and attach a lis pendens to the title.  

If the house has equity, why not try to take out a HELOC and perform some of the repairs while the renter is still there?

http://www.marcusmillichap.com/Email/news/2016_05-...Emerging supply and demand trends for residential and commercial real estateHow brick and mortar retail is performing in light of rapid rise in e-commerceWhat investor sentiment says about the future of real estate markets

Performing or non performing?

I don't anticipate a contractor to perform his craft any less effective just because we needed to cut costs.

Receipts for work performed by other professionals should be provided before work is paid.  

Make sure you sell before the third anniversary of your moving out in 2013 and you don't need to worry about it being a gain.