I also know that many people did not trust banks at the time, because they were all run by white people. 

By replacing UBIT with corporate tax, the rate drop is significant enough that the net after-tax ROI to the IRA may still be favorable relative to other passive opportunities the IRA may have access to.This is not a meaningful strategy for the typical $50-$100K IRA, but for someone with the capital to really do a volume of flip transactions, it can be worth exploring.

@Danielle Dunn Consider reaching out to @Joe White --- he manages rentals in Philadelphia and he is an active member on BP. 

It may be helpful to know whether the property is an auction since auction listings are typically listed at a base price so you generally have to plan on a higher price.  

Is their any other loan structure for 10-30 unit complexes that are better than the one above or is this typical for commercial loans? 

What type of security does typical hard money loaners require?

It will be extremely unlikely that you find a HML to give you 100% funding on your first deal.They will all require you to have a down payment and some skin in the game.You will also need funds for rehab because they typically reimburse you afterwards.You'll either need to save up or get private money (friends, family, etc) for the down payment.Otherwise you can always explore creative financing options like seller financed deals, etc.

Those type of properties I’ll typically shoot straight for MAO.

Was it the ink color?

I'm sure it's hard to estimate cost, but what kind of return do you typically see from sub-metering?