Your IRA is the owner and would be selling the house.There is no current tax consequences.If you have a traditional IRA you will pay taxes when you take distributions in retirement.

It plays well in the media given it's a bunch of retired military families suing who invested their life savings in VR's. 

I've been itching to begin my real estate investing to start learning through experience how to make stable passive income.

@Kat N.Having your property in an LLC or not does not change anything regarding depreciation or expenses deduction.It is usually tax neutral unless you add a property management Corp in the mix that can give you some more creative tax optimization strategies regarding fringe benefit, retirement and some other expenses that you would had problem deducting in your disregarded LLC.

I would suggest something that is near turn key near stable.

OKC is a very stable market and even in the last downturn, our property values in b and c class didn't drop much.

I would consider buying at as much of a discount as you can, in a good location ( not on a busy street, not near any "yeah buts" as MeetKevin would say, stable neighborhood, fixed long term financing4) South of Blvd has always had higher desirability, but if you find a good value, there are many great neighborhoods north of the blvd.5) I'm not a CPA, generally you pay taxes when you sell & if it's a primary residence there are large exclusions ($250k each individual owner) 

Real estate investing is a long term game to retire well and leave an inheritance to my children's children. 

Due to this understandably very short time frame, I'm curious what strategy people would recommend for me to get to a position where I can retire from my job and live off the investments.I am currently narrowed down to long-term buy-and-hold through the BRRRR method, which seems to be a fairly fast track using the same capital.

I have financed the acquisition of a property that was to be converted in to a retirement home.