I'm in Utah and would be glad to help with a quick crash course on buy and hold analysis in the Utah market.  

But with self-directed IRA your investment options are virtually limitless and allow you to invest in the assets that you have much better understanding and much greater control over.The bottom line is this: if you have an IRA with say $100,000 you have an option of keeping that invested in the stock market with the risk of potentially loosing 10, 20 or even 50% of it's value in the next stock market crash or take control over it with a self-directed IRA and invest into tangible assets with lower risk and higher return potential (the option of cashing out your IRA early, paying taxes and penalties would not be prudent for most people).

During the 2008-2009 housing crash, why did people not just rent out rooms to prevent foreclosure?

It shouldn't take several years to save up $12k.The risk of over leveraging is why so many investors went bust in the crash last time.

I think things are headed for a crash soon.

Basically, attacks from outside (to rentals) liability issues (another example could be if she crashes her car and she or you both get sued).If "courts have determined that in order for a creditor to have access to property that is held by the entireties, there must be some action performed by both spouses" - I think, with both of you owners of a rental, you'll have no separation and no way to claim "She/I did it, I/she didn't know, I/she had nothing to do with it" in matters of liability issues arisen from the rentals - the inside rentals liability issues (like tenants falling on the stairs because you/wife/both neglected to install/repair a banister) - and be able to remove one of you from the lawsuit (because you both will be sued in such case as owners) and thus claiming "oh, can't collect on the lawsuit award, cause is jointly owned, and only me/she lost".But before you get caught into the rabbit holes of legal asset protection...do you really need it?

This "deal" rode the real estate wave before 2008, making each of us seem like geniuses for buying, then crashed along with everything else during the housing crisis.

==============Now you have a little bit of information, and a little bit of information can be dangerous.It's like you have heard there is good skiing at Aspen but have never skied.Without the more knowledge of skiing if you just go out and jump on ski run you will probably crash pretty quickly and injure yourself.

Kids are the best, and we can use our mistakes / life experiences to help train them to avoid the pitfalls we crash into along the way.

Probably do OK, but it is more risky to get a problem guest.Having said that, I do find those single night instant booking night valuable if I need a place to crash for a night.