Therefore, I bet he respects your situation and would be more likely to play ball with you than some other low baller looking to get rich off his property.

I work with and respect real estate agents.

In most all respects, the IRA-owned LLC has the same filing obligations as any other LLC or individual when transacting with counterparties.https://www.irs.gov/pub/irs-pdf/i1098.pdf

I would probably sit down with them and just lay it out, especially if he is a cop he would probably respect that. 

I certainly respect the opinion of @Sam Craven and I really like @James Marshall's stress test. 

Please leave a comment or message me with the respective lenders contact info.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/

If I find the right deal, I'll get a place with respectable cash flow, but it won't be enough to generate enough capital to do 2 houses in year 2, 4 in year 3, etc.Anyone care to share their experience about how they were able to grow exponentially year over year?

Often caused by an over-saturation of a particular property size with respect to demand.