For example the only basement coverage was for mechanicals in our case and most of the neighbors. 

Landlords usually take maintenance outside and mechanicals, but go with what is common in your area.

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.  

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. 

The interior & mechanicals were in good shape but there was room for value add: rent vacant side, increase rents, improve exterior How did you find this deal and how did you negotiate it?

Well hello everybody,I am a mid 30's husband, father of a wonderful 9 year old girl, dog owner, and someone who enjoys their day job as a construction manager in the commercial industry.......well most days anyways :)My proffessional story began with earning a bachelors in mechanical engineering from Washington State University (while working in the residential HVAC field).

Broadly, what are the mechanics that make this work?

I would really appreciate some advice on this one.Thanks IMO, this deal is way too small for exotic mechanisms like beneficial interests and land trusts.  

I do not believe there are any clearances for a gas meter in the building / fuel gas / electric and mechanical codes.

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