I typically use 1% when I'm figuring out my numbers, or 1.25 to be safe. 

@Tre Coleman it is best to find a seller if you have a good deal and market it right the buyers will come you can find contracts online pdf files even bigger pockets might have some as well but to be on safe side always have an attorney to look at it to protect yourself 

Unless you invest via an LLC owned by the IRA, you will not have checkbook control over the funds which means you need to run transactions (e.g. income, expenses, etc.) through the trust company who will need time to process the transactions and generally charge fees for each transaction.

Yes you can do owner financing if it is a commercial transaction.

Safe area for you and your family while living in it.

. $10,000 is no where near enough to get safely into the game.

What would be a safe rule to go by to ensure that I don't  under budget?

Typically, we see people get a safe, lower-return unit at first, build up some equity for an exchange and finally turn it into a higher-return unit down the road.  

In response, the buyer can continue to negotiate, accept the seller’s position, or in some cases, end the transaction and recoup their earnest money.The buyer functionally removes or waives the inspection contingency by agreeing to a signed inspection response with the seller, or by failing to make an inspection response request to the seller before the number of days indicated in the contract has passed.Part 2: The mortgage processor those borrowing to purchase their home, the mortgage process is usually the the most stressful and opaque part of the transaction.

@Sean HarrisonIf you're self-employed, you might be eligible for a Solo 401k, which offers many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contribution limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)I'd recommend you reach out to a few providers who regularly post here on BP to get a better understanding of your options.