Hi Beau, it sounds as though you guys are looking in a desired neighborhood as well. 

Consisting of 112 units located in a growing and stable area of Dallas.

That can be a draw back if the market is on a mad run up tho.Also, I would always have enough in a heloc to cover your 401k loan in the event of job loss or if you quit your job. 

If you had $50K in a Self direct IRA how would you leverage that to yield short and long term dividends? 

A no contingency sale would be more common in a severely distressed non-functional property where there will be so many material defects that the buyer could not feasibly negotiate until they evaluate them.  

The goal is buy land to invest in a business.

However, I haven’t closed on those types of deals in a while.

The rate is maybe a little better than what you’ll get in a conventional 30 yr. right now, but the terms are worse.

I'm totally good with some sweat equity but I'm not in a position to do Roof, siding, structural repairs and such.

I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?