First Bank will lend on Trailer parks if they are currently producing income.

@Seth C.IRA capital can be used to invest in real estate in the variety of ways: single family rentals, commercial, in the US and out of the country, you can invest in tax liens and deeds, you can do hard money (or private) lending out of your account to other investors, etc. etc.In order to do so you need a self-directed IRA.

Much more diligence is needed on your part before deciding to lend. 

When lending private money is there a downside to having your own name on the recorded documents?

Secondary mortgage institutions, which owns the mortgage, are backed by the government, could care less. 

If you simply want to choose other investment or passive income approaches, then P2P lending, dividend stocks/mutual funds, carefully selected growth stocks, etc can provide that.  

I'm on the lending side and am looking for more opportunities to put my funds to work.

I would probably counter offer subject to lending compliance at 8% either amortized or I/O depending on how that loan is classified.

Before the crash I could blink and a big bank would lend me money...not so simple any more.

@Gail GreenbergIf you are personally buying the property you will not be able to use your IRA funds for the rehab (you are considered a disqualified person to your IRA and IRA is prohibited from conducting any business with disqualified person, in your case would be lending the funds).