My question for the experienced is this...I'd like to BRRRR this but I'm 52,  so the idea of holding a mortgage for 30 years isn't very appealing as I'd like to use the rental income as my retirement in 15-20 years.

Some books to consult are "The Ultimate Guide To Self-Directed Retirement Plans" by Thom Garlock; Steve Case's book "Tax Free Note Investing," and "Your IRA Can Buy Notes & More" by John Merchant, J.D.  

@Dmitriy Fomichenko It could be for a number of reasons, capital preservation on either the cash or retirement account side is just one possible reason.  

I would try to keep somewhere around 30-35% equity, also keep in mind  I am nearing retirement. 

Or maybe I could turn it all around and say: "Invest in California because in 30 years when you retire you'll still be locked into a low property tax cost because of Prop 13".To end my rambling, this is from my perspective as a buy-and-hold investor.  

To learn more about the prohibited transaction rules, see the following. https://www.irs.gov/retirement-plans/retirement-plan-investments-faqsIf you decide to invest your IRA in real estate, IRA Services Trust Company is in your area so it may be worth reaching out to them so that they can explain what their requirements are to hold IRAs for investing in real estate, as most big banks like Wells Fargo and Chase  don't offer IRAs that allow for investing in real estate.For the most part, the types of investments that cannot be held inside an IRA are:Artwork,Rugs,Antiques,Metals - with exceptions for certain kinds of bullion,Gems,Stamps,Coins - (but there are exceptions for certain coins),Alcoholic beverages, andCertain other tangible personal property.

Then when you retire, you will be able to be close to them.  

For his typical callers, they NEED that dogma because the imperfect dogma is WAY better than the plan that his callers often presently have in place (which is to say, NO plan, NO goals, NO hope, NO retirement, and taking on more consumer debt is all they are actually good at).

We are not gamblers but steady buy and hold investors with a goal of using the cash flow for our retirement and hopefully leave some assets for the next gen.

Am I personally comfortable retiring 5 years later than I otherwise could in exchange for going to Europe, South America, and Asia in the (hopefully) first 1/3 of my life?