@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.  

However, for this property by beautiful Lake Merritt, under rent control, it will not generate enough income to support a 75% LTV.

It's OK to locate your new business in your living place if you can close it off and have minimal distractions, especially personal ones.Try to stay in control of everything you are responsible for.  

If he wants to have total control over his retirement funds instead of going through a middle man for every investment and every transaction then he may want to explore Checkbook IRA. 

You make your money when you buy...you realize your profit when you exercise your exit strategy down the road.If you do anything now, rationalizing on future events you have no control over, that will recover your loss (overpay) at purchase, you lose.  

Amil, here is what i have done in the past with LLCs and partners.There was one main operating llc that i controlled since i was the leader on the endeavor.

and I commend you on how you portrayed your scenario, as we all should take responsibility and take charge of what we can control.

when you wholesale a deal to a wholesaler who is finding the end buyer, you've lost control of that end buyer.

Remember you don't have to own a property to control it.

The bank has no control over the AMC's fees either.