I can't do straight property management due to state licensure so that's why I was hoping I could bypass this by creating some form of partnership (50/50 or 60/40) where he retains the physical asset and I do the heavy lifting when needed. 

Have had success investing locally but have always been very hands on so the idea that I may not get to know every detail and physically be there has me in a bit of a state of paralysis.  

Also complicated by presence of outside investors, level at which I'm personally supervising the project, and a concern that more capital can be needed after project starts (but may not be available in the IRA).In my own situation, by "right tool" I was thinking about which of our past physical projects this would make sense for, or whether it'd make more sense to focus the SDIRA on lending money only.Regardless, thanks for educating us!  

I realize sales vary from one area to another but at a physical sale the trustee should tell you what lien they are acting on.

There is definitely something appealing about owning physical property instead of REITs.I'm married, in my early 30's, and have no plans to purchase any investment properties in the immediate future.

In addition to all of the logical reasons mentioned by others, some tenants do not have the mental capability and/or physical capability to purchase, own and keep a home maintained/repaired.

It is clear that the PM rarely,(or never) physically inspected the property andhouse.The damages to the house, rent, and water bill wereway more than their security deposit.

It's good for me because I watch the dirt versus a physical asset that will take up a bunch of my time.

You could set up an escrow/title company to physically hold title possibly, and you would hold "equitable title".

Tom owns a Class A office building (it has all the physical attributes that make it "Class A") and his company manages it.