Also, don't know your market, but option 1 works best in a cool to medium market (when buy-and-hold is the optimum strategy), while option 2 would likely work best in a hot RE market (when RE flipping or sales/services tend to be better).

This is for installing a short 40 gas gallon water heater.  

With the property suddenly under water, I decided to rent and wait it out.  

You operate a business and to stay above water you need to make money as well.

I also know that water pools above our unit and then freezes at night.

In Calif, it is code to have the water heater strapped to a wall - - and yes, they take pictures and report the condition to ESCROW, not the city.

Price dropped to $45k and the numbers are as follows. 4 units, 3 tenants($425/month), $15,300 gross, Recently connected to City Septic but has a Water Well Connection(can be switched back), Repairs around $25k(kitchen and bath need upgrading) along with  maintenance.  

Just be careful and not over do it, and get yourself under water.

I have 2 years experience as a Regional Manager for a Heating and Cooling company. 3 years of welding experience and certifications, Electrical experience, and concrete management experience.

SDIRA's are really cool, but they are not what most IRA holders are used to.