Many investors have found success through investing in alternative assets with their self-directed IRA, including in real estate.

An alternative option that we use is to allow them to vacate, but require them to continue paying the rent and utilities.

I know this question is contrarian to most new RE Investors, however, over the last 15 years, I have been an investment advisor and have been able to create an unbelievable business that cash flows extremely well. 

I alternate between PC and letter.

Unbelievable.

It would be an alternative to a window unit without the high cost of central air.

And as far as commitment level, I'd like to own my first piece of real estate, but am only ready to commit once I understand my ability to get approved, for how much, other options for obtaining lines of credit, the amount of passive income available, and my alternative options in case things don't go well.

Alternative projects like medical and senior assisted living are also what I'm moving towards because I think in the new developing economy, these are going to still be in demand and may even be eligible for subsidies.  

Alternatively, the cash flow you are getting now is pretty good for a single door... and you are making better progress on your loan than you would if you reset it at 30 years on new properties - albeit with a lot of appreciation equity tied up in the property.So it is a question of sell or keep, but definitely not refi at the values you listed. 

You can hold alternative investments in this account.