But at the same time, I don't want to deal with "high risk" properties, either, so that seems to be good medium.

Most of the scenarios proposed to us by potential clients for such joint ventures would likely create a benefit between the parties and not pass scrutiny in an audit.There are many ways to safely and productively grow your IRA investing in non-traditional assets such as real estate in a standalone fashion,  There is no need to take unnecessary and foolish risks with your retirement savings.

I understand that leverage means more risk but at the same time more return on investment.

Is that really enough to bother having equity sitting dead and at risk in a property. 

so there is a good amount of risk in this plan to loose the house entirely.On the other hand your friend the lender could end up with the property as an REO and then re-deed it back to you. 

If they are existing tenants with a good track record, and they're not doing anything that's not reversible or risking damaging good flooring, it can be considered. 

Last I heard, they were second highest in the country, with Miami being #1.If you have a loan on your property, your lender will typically require you to carry "Named Storm Coverage" (NSC) insurance. 

That seems to carry more weight when the tenant agrees in court and the judge writes it on the judgment.Good luck!

@Jeff Bisgier It depends on your risk tolerance.

@Hunter BylerA minimum of 6 months seasoning before lending off an appraised value is a form of risk management that the vast majority of lenders have written into their guidelines.