It is a bit of a non traditional situation, which may result in me obtaining an expensive education.  

1) Variable rate loan  2) Interest only lock for 3,5 or 7 year term or 3) A traditional principal and interest lock? 

Would you expect similar value appreciation (much larger ROI), a little less but still a higher ROI, similar ROI, or lower/negative ROI than a traditional garage?

I used traditional FHA lending.

I was wondering whether or not I can rollover my traditional IRA money to the self-directed IRA, so that I can use this money to invest in real estate without paying penalty, right?

Understand that your traditional large banks with a large portion of the market share, aren't necessarily investor friendly though they may say they are.  

I would like to get a traditional mortgage so I can put that cash towards other deals.

I was fortunate enough to purchase this property with zero money down, but let's use a 25% down payment to illustrate what the cash flow looks like with a more traditional purchase. 

Is this an owner occupied single family home where the owner has a traditional mortgage and they are thinking of filing a BK?

Before looking at a portfolio lender, I would suggest that you 1st work with a knowledgeable mortgage banker (like me) so that they can understand your need, your financials and make the best recommendation.Please PM me if you would like to discuss.Upen PatelMortgage Banker We are looking at having 40 homes in 2-3 years and the traditional route will limit our chances of doing this.