Still working 50+ hours a week and trying to get this property closed eats up a lot of time. 

Do not cash in your IRA early and eat the taxes and early withdrawal penalty.

And when it's done, you have a loan against the house.HM Lenders don't approve every deal, so the buyers end up with egg on their faces after claiming they were going cash. 

I would assume the interest would eat into the profits- am I looking at this the wrong way?

Fix and Flips get a lot of glam as quick way to make some money... but if you don't know how to mange the project or vet contractors or do the work yourself it can eat up all your capital quick.

Hard money will eat profits.

You should check out some of these places to eat while there.

Business mogul Gary Vaynerchuck talks constantly about "eating dirt" for a period of time so that you can reach your goals in the future.

Of course, eventually it'd be nice to live off some passive income via real estate investments, but I actually love my job and am not concerned with needing to quit or put all my eggs into the RE investment basket right now.

Anything meaningful that is going to eat you alive in capital costs into the future and take away practically all cash flow the turnkey seller on low end properties hardly ever touches.