Basically, the agent is paying to rent the zip code on a monthly basis and paying for the leads/inquiries that come from it.We (the website) send the agent the leads.

There are more and more banks every day that will loan on these properties.

Unless you trust your team enough to basically hand them a check for say $10k and trust that they will get the job done, and/or you are willing to visit the job site personally on a weekly basis, in no way, shape or form would I advise any newbie to take on a rehab out of state.

Also if you only have the main house as a rental and the guest house is your vacation spot you are only allowed to claim depreciation on the cost basis of the main house and the guest house is non-depreciable since it isn't rental property it's personal property.

Since he can pay me on a monthly basis and I can sell him my share of the property for 1$ when he pays back the full principal.

The DSCR says the existing Rent Roll will cover the P+I and that's the basis for granting the loan.

The lengthy back and forth process with the SEC and the legal cost of constructing one of these offerings demand that the money is invested on a discretionary basis by a fund manager of some sort.  

Know it and remind yourself of it every day. 

Your Tax basis in the IRA is $0, so your tax basis in the property would also be $0.

Account Closed yes, I have been careful about that, but these are mostly people who work on commission basis.