You'll need access to the MLS to get the most accurate comps... don't rely on the tax appraisal values or Zillow, etc.I would also drive by the property if it isn't too far out of the way.

All too often I talk to people that solely rely on Google Maps to determine if a house is on a nice block.

You really cannot rely on the tenants to report all damages on time. 

Such payment history claims by a broker or institution are a significant representation and warranty, these sellers are bonded, insured and registered, meaning misrepresentations could be held against them as to recourse, a private note holder is in a different boat, you can't rely on anything they claim, unless you can verify their ability to buy back a note or really suffer consequences.Pretty much why private notes trade with deeper discounts.

I know the basics of car maintenance but I have to rely on a mechanic to see the weird things that might happen to a car.

If you're relying on appreciation only to provide returns, then why is this a better investment than a Total Stock Market Index Fund, which will return on average 7-11% annually over the long term?  

Had I relied solely on that income, I would have been required to find a job to pay for our lifestyle.

It's also the reason that POF's and pre-qual letters cannot be relied upon.

Most courts view associations as the big, bad wolves who routinely overstep their bounds so you've got that going for you, though you won't be able to rely on that alone.  

That said, with proper education, it is very easy to operate a SDIRA within the rules and grow your savings quite nicely in real estate.Rather than rely on bits and pieces of information (some of which comes from those outside the field), I would strongly encourage you to contact a firm that specializes in implementing and supporting the IRA LLC platform.