As we contemplate our strategy for how we begin we have thought about using a large portion of his IRA to get started.

After a lot of thought and contemplation on the subject I finally came to realize that at 70 yrs old and having worked for 55 of those years I'm at a point in my life where I'm over busy work and hands on management. 

Hey Board,I currently live in South Jersey but I've been contemplating buying an investment multi-family down in Florida. 

Does anyone else contemplate starting their own property management company?

We certainly have not gotten completely on top of defaults and even in short timeline foreclosure states you can have a loan sit around for a variety of reasons attempting to reinstate or contemplate relief that finally goes south.We could mark all of this is as "bad" servicing and administration over the loans.  

Violate any one of these areas and your contract or deal may be thrown out.The best way to understand if you're on the right track is to call the regulatory agency that supervises that the conduct and business contemplated.

You would recognize gain and pay tax only on the property you sell.One thought for you as a twist on what you're contemplating.  

I've been contemplating getting my RE license for quite a while as there are many opinions on the books and blogs I've read that highlight specific advantages of being licensed, especially if I want to acquire more investment properties (rentals, flips, and perhaps wholesale deals) in the future.A few unique variables:1) my parents own rentals that they'd like to make sure they pay me as the listing agent if and when they are to start selling these properties in the years to come.

And I can relate--I anticipate leaving the military next summer after 24 years of service and am contemplating a follow-on career doing something like what you describe. 

My wife and I are contemplating the same exact situation.