I have not heard of any investors or banks willing to finance land with a potential teardown just waiting around for appreciation.

. -  I wish I had the 100k in my account but will certainly try and mention the owner financing option (20k down, and 1k/ month, transfer deed to my name, and take over and sell property for profit and pay off owner after sale) and see what the seller says.

Waiting on appraisal, but I think the owner value is correct.

Having waited several months to really make a first step into the realm of real estate investing, this is this first outward step I have taken. 

The current SDIRA administrator I am talking to says it's not mentioned specifically, and it's considered a gray area;  that most tax attorneys recommend to avoid it.

I am now waiting for this person to set a date to sign the lease and secure a deposit and they are not responding.  

Even with the challenges I've seen, I still love them and wouldn't trade them.Of all the markets you mention, Chicago and Indy are the only ones I'd deal with personally.

I have no choice I'm just waiting till I have enough to start this mail campaign and my signs.

You mention, "Probably time to find a good independent agent to handle the rentals, AND you'd be able to leave the home and auto with USAA."

Doing a title search will show existing liens, as mentioned those need to be paid off in full by the settlement agent out of closing.