@John Kunick:  FAR from a 'liberal catch-phrase' and ubiquitous in real estate, nationwide, including your own jurisdiction: Oklahoma Fair Housing LawThe Oklahoma Fair Housing Law (Title 25, article 4A, Section 1451 through article 5, Section 1508) prohibits discrimination in the rental, sales, financing, appraisal, insurance of housing and other housing-related transactions based on the following categories or "protected classes" including race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).

When opportunity knocks, you can act immediately.If you decide to stick with the custodial model, when you interview specific trust companies to serve as custodian, be sure to focus on this timing aspect of your needs.  

The bottom line is that you need to understand and follow the rules regardless if you have a custodial account or have a Checkbook IRA.

The IRA LLC would be beneficial to an investor making several such notes, or directly owning real estate and therefore in a situation where they may need to react to opportunity more quickly than a custodian can, or where they would have enough transaction activity that custodial transaction fees would start adding up.There are about 2-3 dozen reputable self-directed IRA custodians out there.  

There were way more custody case filings than divorce filings.

The 3 custodial companies that have been around for a long time (Pensco, Equity Trust, Entrust) have well trained staff to assist you.1.

I'm a single Dad with sole custody of both of my kids.

My current situation:  I have an LLC formed, a custodial account with the IRA provider, no bank account to place the funds in yet, and the lawyer is wanting to know how to write the organizational documents for the LLC.  

I've never heard of a title company allowing a lien to survive a title transfer without proper documentation with chain of custody and proper subordination. 

My three month flip has turned into an eleven month saga becasue my 9 year old son was assaulted by his stepfather this summer and my rehab funds have gone towards attorney's fees as I'm trying to get custody of him.