Stay in control of what you are responsible for until you have developed some trust of your Team members or employees.  

That would give you much superior returns over paying a bunch of middle men, you would also then be assured that the rehab was done up to you quality standards, and finally it would hedge your investment to a large degree from any short term pricing volatility caused by a recession or other events outside of your control.

I know what you're thinking "expensive hobbies" but I found that with a little self control and some budgeting I can afford them pretty easily by sacrificing other non necessities, like cable or HBO etc, etc...

What sponsors really care about is being able to attract investors and control their deal without intervention from a marketplace.  

At that time I had worked in many places they owned and ended up as a Funding Control Officer who approved draws on all kinds of construction loans they offered.  

It can get out of control and taking it off if/when you need to repaint the exterior can be a nightmare.

Lurkers: Basically, this is applicable for anything coming up beyond your control, or ability to anticipate, that would cause you to break your promise to owner occupy for 12 months.

This way you have tied up the property and have control over it, but do not have to purchase it/close on the purchase until you are ready at which time he would exercise the option to buy and then proceed to close on the purchase.

I like having the control over the investments, even if it could go south.

@David FlandersWhat you seek is not really achievable within the framework of the IRS rules.If the IRA purchases the property, then a non-recourse loan must be used.Once purchased with the IRA, a property may not be transferred to you or an entity you control, so that you can then arrange for debt-financing in your own name.Your only option would be to find a private lender willing to lend to the IRA at a more aggressive set of terms than a bank.