Yes, it is possible. You will need to use a self-directed IRA administrator who specializes in this strategy. There are several companies offering this service. Things to be careful of include high fees, difficulty in administration, and overlapping tax advantages. In other words, it can be expensive and cumbersome to work with. In addition, rental real estate is already a tax advantaged investment because of the depreciation deduction and losses being deductible against ordinary income (within limits and depending on investment status). Wrapping all of that inside the tax advantages of an IRA may be beneficial or it may not depending on your personal situation.