@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

@Derek BellWhat would the after repair cap rate be with a 362,000 NOI?

Rents were well below market and substantial repairs were needed.

Then all you realistically can do is manage bookings, delegate to handymen for repairs and hire cleaning service.

Many new investors get excited by high cash on cash returns in the midwest and buy rough properties in D areas and they get smoked by property managers, tenants, vacancy, capital expenses, repairs, turnover costs, etc. 

The only things I have seen them take are comps and a full repair list when they are appraising the final flip.

The seller wants to give a credit for repairs so we can close early but the closing costs are already covered.

Mostly messaging with guests regarding issues, questions, concerns, as well as coordinating repairs and restocking supplies. 

The water leaked through a shared wall into their neighbor's space and repairs are being made.

The more you know about what is involved in renovations and repairs, the better suited you will be to take on any project.But, real estate is capital intensive.