Taking a large distribution from an IRA - inherited or otherwise - creates a significant tax liability.If the purpose of the property is purely investment, then it will be best to make that investment within the existing IRA umbrella.An inherited IRA can be converted to self-directed format. 

Thus, making this a purely appreciation play.

Have you checked the batteries ?

purely rental, not too much personal use?

At the same time , not only does the 90 day challenge put a battery in my back, but a mentor falls out of the sky.

Of course, this is purely from my own knowledge of the laws in Florida, best to consult your attorney on this as well.

However long term appreciation will provide better ROI than pure cash flow locations.  

It's true that Battery Park and Barton Heights are dramatically improving.

FHA-approved Lenders will likely not be fond of you applying for new low deposit loans for different primaries, every year or two, having kept your previous primaries as pure investments!

IMO, it should be priced closer to $120k from a purely cash flow perspective.Who will mow the lawn?