@Clark Kahawaii thanks for posting this.  4-plexes in Dallas are a lot scarcer than other markets and I've got some thoughts on just some things to consider:Comparables - with Multi-Family units in DFW finding comparable properties (comps) can be challenging. 

I would obviously take care in the future of making sure all income and expenses were clearly split and there was no commingling of funds, but my biggest question is whether I can do that "assignment" of the contract from my normal LLC as the purchaser to the 50-50%  with the IRA?

I'm working with the city of South Pasadena right now and they are significantly more challenging than LA.

I'm not a whole saler myself but I deal with a couple of them and the biggest issue I always run into is they either don't know the neighborhood, arv, or the cost of estimating rehabs. 

Joel, I don't know if this is allowed but you  Might Try Robert Hudgins from Searcy  he has helped me with my real estate challenges. 

I am also interested in out of state investing and would like to hear of your success and any challenges you experience. 

My biggest tenant damage was from a 23 year old recent college graduate with over a 700 fico who always paid the rent on time.

Not a war zone but just more challenging.

Biggest recommendation I think you will receive consists of becoming an agent while you are attending college OR working for a property management + contractor. 

4) Following this process, what are the biggest hazards I would still be exposed to?