But I know short cutting really won't get my far and I realize I'll have to really do my own targeted marketing.

He realizes that if he doesn't sell the house, he will be stuck here and can’t move back home.

Hi @Tanya Jayakom ,I realize that your post is from Seven month ago, But was just wandering if you have had any luck or any deals as yet,and just how is your experience so far going in REI?

The problem is, the more I ponder this strategy, the more I realize that if I find a good deal for fix and flip, that deal would also probably make a excellent deal for a rehab and rent.

We all realize that investing in real estate is the path to wealth when done properly!

Apparently they can afford a negative cash flow, or they aren't on BiggerPockets and don't realize there's going to be a negative cash flow.

Always run the numbers of a home, even one where you plan on living, like an investor.In terms of headaches from phone calls and stupid problems, I realized after listening to those stories, I did not want to deal with it, so I use a property manager.

Of course this isn't as applicable for IRA investments made in housing flips, but for those individuals investing in larger multifamily or commercial buy and hold RE investments, SDIRAs can help you gain exposure to direct real estate and realize superior cash flow returns relative to most other passive investments. 

Reading more on the 50% rule, as well as the 1/2% rule, the more I realize that they are pretty useless other than looking for VERY quick numbers to get a very rough idea of things.

Not that there's anything wrong with your business plan, but this is what I can see as a problem:If you don't, yet, have any deal under your belt, you don't realize how flexible you need to be in this business.