As long as you are adhering to IRS guidelines (not living in the house, not performing "sweat equity", etc.) you can choose from a wide range of income-producing properties to diversify your self-directed retirement plan.

That will give you an idea of how they spend their money so you can see if they are constantly buying stuff or have healthy spending habits(yes you can legally ask for bank statements).

etc...If you're interested in a cash flow property, make sure you get a high income producing property.

We want to open a community gym and influence people to know that optimal health is achievable and an easy habit to development.I just have to mention that I love sunsets and I'll go out of my way to watch the nightly show.

I want to diversify the areas that I invest in, but my strategy is different from yours in that I prefer lower cost properties that tend to produce high cap rates.

You'd be better off finding private money to finance it, someone who's looking to lend a little longer term at a healthy return to that person, say 6-8% interest only with a 3 year balloon payoff. 

My advice is to have the tenants put all utilities in their name and produce the account numbers BEFORE you give them the keys.

In economics 101, the more you produce of an item, the average cost goes down.

We then refinanced the property and it has given us $140k in cash back and continually produces $1,800/month in cash flow.

Please be safe and stay healthy for now!