.* Assess what rehab work needs to be done and assess the potential rehab costs.

The key is buying properties significantly below market value, keeping costs low through self-management and maintenance skills, and taking a long-term view to build wealth through forced appreciation and equity capture over time.

I've recently setup a Self-Directed IRA with Quest - just funded and am looking to start!

My guess is at current interest rates and building costs, the numbers won't make sense.Are you in the STR zone I guess? 

The seller would have to carry a very large second mortgage and this point will stop many deals in its tracks... but it's not impossible and it would definitely work if you can get the seller to agree to carry a large second.The other high LTV scenario would also involve a hard money lender and instead of cash we can cross collateralize with other real estate you own assuming there is sufficient equity in said holdings.The challenge in this scenario would be the cost of the hard money... it may be workable on the 140 units, assuming you are getting a good enough deal on place.

If the loan is valued by the rents how do I calculate for the arv.Example6 Unit Property Cost - 850,000CURRENT RENT - 5,300ARV - ?

Cost on your sewer and water hookup.Scope the sewer see if it needs replaced.

I would use a company versed in this process to manage the operations of the LLC and collect the rents/operating costs for the owners. 

If renting RENTERS insurance for the amount you invested NOT replacement costs, it will be about 1k-1300 a year. 

The setup: We have a second home at a lake which we enjoy when we can.