The gains are subject to UBIT and then the balance goes back to the IRA.I can see that you are confusing UBIT with the similar UDFI.  

These are typically run down and need lots of work to bring back to rent ready.What are you looking for?  

I did notice that the post said most portfolio loans have a higher interest rate typically than what you'd get with a conventional lender, and that they are usually shorter in term or have a balloon payment.Based on my personal situation, I shouldn't have much of an issue getting conventional financing for the first few properties.  

Also, through my research I am learning that many banks/ lenders offer low Money down options very similar to FHA and PMI terminates after 20% equity is gained; which is awesome. 

They typically want 2 years worth of tax returns (done by a CPA makes life easier), and will want bank statements for all accounts.

I still look at everything after the fact and typically most all if not all your Cap Ex is completed after the rehab is done.  

Generate your own leads and then you have lots less competition and if you do have competition it's other investors and typically not first timers shopping with their agent.

Is haveing a COC return of around those numbers pretty typical in Katy in the market we are in? 

What is a typical cap rate where you are?

That typically is investors.