SDIRA:
Need to find a custodian (annual fees, usually not that big)
Need to buy the rental property with only funds from the SDIRA
Need to acquire the mortgage with the SDIRA if you can't buy the property completely 100% from SDIRA funding. This means a commercial loan from a local bank and typically will require at least 25% down (or more), and they will review your numbers to see if it is profitable enough for them to take the risk (because your own personal credit doesn't matter). Also, expect for this to be an ARM type loan that will have a rate (usually higher than a standard mortgage interest rate) for 5 or 7 years and then go to a "floating rate" after that -> this is highly dependent upon your bank, but those were the types of deals I was offered from local banks in Denver.
Must have a separate property manager. Not you, not your family, a professional property manager.
All repairs, maintenance, advertising costs, and big capital expenditures must be funded from the SDIRA. You are not allowed to do any repairs or maintenance on the house, nor your family.
All rents received go to the SDIRA and all payments for Mortgage, Prop Tax and insurance come out of the SDIRA.
Check with your local bank for further rules on avoiding UBTI/UTBI (or whatever it is called, which can cause a taxable event to take place inside of your IRA based on exclusions/rules not being followed properly).
Pretty much lose most of the tax benefits of landlording to gain a tax benefit on the capital gains. Might make sense if you only concentrate on "A" and "B" properties where you are speculating on appreciation vs cashflow intensive "C" properties.
I like simple, I said hell no after I sat in on a seminar put on by a local bank for real estate professionals and investors a few years ago.