You will be investing considerably more time and emotional energy going that route, especially if you want to self manage.I'd say that $10K is the buffer you need on hand to weather a bad eviction/move out or other catastrophe, so might be cutting it tight financially.

Self Direct your IRA and be sure to advice the Custodian that you plan of forming an IRA/LLC..this way they can set you up appropriately and allow you to purchase the LLC with ease once your Attorney has it set up.2) Form an IRA/LLC - this requires an Attorney who is familiar with this formation as it is no-where near a normal LLC - also your IRA must be Self Directed before the LLC can be formed.NOTE: Steps 1 and 2 may want to be done together...consult with both professionals first, put a plan together and then use them to execute the plan.3) Sell the LLC to the IRA and open a checking account - this now gives you full control of the funds and you don't need to go through the Custodian for anything during a transaction...the Custodian will keep your records so a few times a year you will have to report to them what the LLC is doing so make sure your records are "tight"4) Use the IRA/LLC Checking Account responsibly and be sure to avoid Prohibited Transactions5) Work with an accountant/CPA to be sure that you are paying the lowest UBIT possible which does require excellent book keeping6) You then are the Manager of the IRA and can execute all related transfer documents regarding the asset for your IRA...keep in mind that you can not ever pay yourself or other disqualified individuals out of that account.AGAIN...I STRESS... this is a great strategy to deploy BUT you MUST know what you are doing, what is going on, how you can use this powerful strategy and when in doubt..ASK FIRST not after the fact.

Make contact with a tax lien buyer, prefab ly a corporation as they will have a godly number if them and see if they are willing to assign a lien to you that is at the twn year period or at OST ( order setting time) which is the deadline the judge gives the property owner to come up with the money.

You'll have the same tight budget.  4 kitchens and 4 baths mean lots of stuff that wears out.  

People usually want both, and contractors unwilling to compete on price as well as quality are sometimes astonished and indignant to find themselves out of work in tight markets.

Your best bet is to hang tight and wait the full 24 months and take all the eligible gain tax free.  

Still, there is a tight rope we straddle, but when we show the paperwork on what is expected, the right direction usually surfaces.

It does occasionally allow you a little extra on a tight flip to work with.

It sounds like you may be getting into a very tight situation.

In Florida where I invest I am seeing double digit appreciation on the low end homes and inventory is very tight.