Most of the 70K+ houses you are talking about have serious structural issues, mechanicals have to be fully redone, and permits take time and money. 

But, there is no mechanism for using IRA funds to directly or indirectly benefit you, family, or family businesses other than by growing the value of the IRA itself.  

The building is currently being rented out and used as a mechanics shop (not including the land behind it).

the first was a SFR where mechanical and CAP Expenses were required.

Mechanical skills and people skills are not my strengths.Besides owning a home, I started out in real estate with publicly-traded funds and REITs.

The ones I've seen have two different opening mechanisms.

Nearly every mechanism used by building owners to deregulate units are now null and void.

More units means more mechanical systems, A/C, and heaters, plumbing and electrical systems.

You can pull all permits except mechanical such as electrical, hvac and plumbing

@Cecile Poyet the fundamentals of the housing market in 2006-2007 were a mess which lead to the housing collapse, however, today the fundamentals and mechanics of the market are good so while there may be a slow down in housing there will not be a collapse.As other experts @Russell Brazil @Caleb Heimsoth and @Jay Hinrichs mentioned if you hold for the long term it doesn't matter the value of the asset.You buy low sell high.