After purchase, self rehabbed by:painting the whole house, brand new floors downstairs with modern baseboards, modern appliances, brand new concrete patio, all led lighting throughout the house, new cabinets and counters in both bathroom and kitchen downstairs.

I do not want to use my self directed IRA to directly buy real estate but can I establish my own hard money lending company and borrow money from it at 10% interest rate to buy real estate? 

This will drive more traffic, as there are many self-employed or people wanting to buy but held back by previous foreclosure/BK timelimites, divorce, etc hampering them from getting traditional financing, and if you're wanting to rent it again quickly, and sell eventually, this would be a good strategy for maximizing your cashflow during the turn.

This type of deal can create risk of self-dealing prohibited transactions.

I know its self explanatory above, but can someone explain to me the reason behind it?

I read it before my first rental and it made me feel extremely confident and do things that seasoned landlords do to maximize protection and profits.Best of luck!

We are also interested in self-storage in the same area. 

My business and partner have been investing in Topeka, KS residential real estate for the last 13 years.  We are very interested in stepping into a small MHP +\- 30 pads in the KS or MO area.  How are these types of p...

I self mange with a heavy dose of skilled plumbers and maintenance people. 

Hi James,This is very bright idea. this is one that I have thought of doing my self, if you can produce consistently and pre-screen these leads you will be love by agents once you hand them off to them, one because like you said, it is all about ROI (time + money) to obtain these leads, and for an agent time is so valuable, plus they only have to paid you once it is closed not up front.