This can be particularly appealing if the seller is facing financial difficulties, needs to move quickly (perhaps due to relocation, divorce, or other personal issues), or the property has little to no equity and they can't afford to sell it through traditional means without bringing money to the closing.

According to the Culture Index, I'm a "Technical Expert" personality type.

And if you ever sell the property the LLC will have to sell and do the 1031 and buy the new property.Or you could stay as tenants in common (your LLC, your wifes LLC, and the other persons llc). 

Personally, I would start by diving into recently sold (6months) properties within a mile that share similar characteristics to your home.

Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendant, and any spouse of a lineal descendant).The following are examples of prohibited transactions with a traditional IRA:Borrowing money from it.Selling property to it.Receiving unreasonable compensation for managing it.Using it as security for a loan.Buying property for personal use (present or future) with IRA funds.

Without getting too deep into my own personal financials, ill create a quick scenario. 

We've also been exploring properties in person.

The listing agents hate it when I tell them I will present my buyer clients offer in person.

What’s more, doing a detailed market research, making a feasibility analysis, getting to know similar minded investors through networking are some of the ways that a person venturing into that field can avoid pitfalls.Good luck!

My wife and I were able to buy a SFH for our personal residence in 2022 and have since turned our focus on saving for our first investment property.