@Mark C.You may not do either of the things you propose.You may not transact with your IRA or make contributions to a Roth IRA in excess of the allowable $5500 per year ($6500 if you are age 50 or older).If you have existing IRA funds, those could be setup so as to be able to invest in real estate.

@Carolyn Morales yes, The property had been vacant for many years and the city had a monthly charge for a closed account.We found it right after the sale and luckily were  reimbursed from the county from excess money after the taxes were paid.

Is there any room for it to be in bad enough shape that it could tank those estimates due to excessive rehab/repair costs?

Interesting article published today. https://www.foxbusiness.com/features/10-cities-in-...To make the list, cities had to have rates of negative equity in excess of 8.2 percent, which is the current the U.S. national average rate of homes “underwater.” combined with the city’s mortgage delinquency rate from Zillow’s February 2019 index.

Of course, the eventual plan is to refinance the home as soon as possible through a traditional mortgage, to reduce the excessive amount of costs with high interest rates from hml.

But shoveling all their excess cashflow into software by hurrying to automate their first property is bad business practice.

However, it also depends what exactly those expenses are, e.g. unnecessary payroll would be something you should be able to correct (and if you lower it, you increase the value of the Facility); high flood insurance or excessive property taxes are what they are and typically cannot be reduced, very well throwing off the "industry standard".Typically we recommend buying a Facility as it is currently performing (past 12 months) and use a pro forma only for where you can realistically take it. 

Just keep in mind, whatever they do not have to pay for they will use to excess and you will have to pay in the long run.

As for the ‘excessive’ family gatherings at your house: you have no control over it.

I sometimes drive in excess of the speed limit.