Buying a first rental property in Kissimmee fl

[Julie Sparks]

We are in the process of buying a 4 bedroom townhouse in Kissimmee fl. Its not on the market but the realtor that is handling this property said that the owner wants $195,000. We dont know where to begin. The down payment of 20% and losing costs will be taken from our IRA. I know its going to put us in a higher tax. Is this a good idea. I was reading also about only 10%. Any suggestions would be greatly appreciative