If the IRS suspects wrongdoing and audits you, you need to have a clean paper trail--that responsibility is solely on you in a Checkbook IRA structure.Additionally, you can only fund your IRA-owned LLC once.

This may not last much longer with anticiapted fed rate cuts and wouldn't rely on this strategy for lengthier projects such as ground up builds where I suspect the borrower will benefit form lower rates in the not so distant future. 

Someone will point out that the 2-4 unit have a better track record of appreciation these past few years, but as mentioned I suspect that's largely being driven by the residential DSCR loans, the same way that being able to get a $200k student loan for an associates degree in basket weaving will drive up the cost of basket weaving education to $200k (and if the loans for the $200k basket weaving degrees went away, the price of a basket weaving degree would instantly drop, true or false?).

Maybe that growth throughout will be sustainable, but I suspect not.

This is an example of a non-appreciating "asset". https://www.zillow.com/homedetails/785-Dallas-St-Memphis-TN-...Sold in '01 for ~$10kSold in '02 for ~$55k (That's awesome appreciation or an unsuspecting buyer geting ripped)Sold in '04 for ~$61k (I would suspect foreclosure sale here as it quickly sold again for substantially less)Sold in '04 for ~$21k (This is probably it's actual value and someone in '02 got ripped off)Sold in '23 for ~$26k for an appreciation of ~24% over ~twenty years that's roughly 1.2%/yearThis is a random house on Zillow: https://www.zillow.com/homedetails/766-Neptune-St-Memphis-TN...Sold for ~$98k last May and sold again last week for ~$40k.

I had to do forensic audits, tracking IPs for law enforcement in the past for suspected pedophiles, and it was extremely difficult due to how the ISP was setup, and I had full access to all of the ISPs equipment.  

That being said, I suspect many of us (like me) have.

I know the costs and effort in my market and suspect your costs will be higher. 

I suspect that the trend will reverse soon.Rentals - Median Time to RentMedian time to rent dropped significantly in February, indicating increasing demand.Rentals - Months of SupplyInventory saw another significant drop in February.

A property manager would have screwed this up I suspect.