Fast forward 20 years: I now have money in the bank, excellent credit, live modestly on my own, and run a business that’s doing well.Unfortunately, I wasn’t able to save much for retirement during most of my life.

@Sonya Sharova I haven't personally done Frank Rolfes boot camp but I have heard it's great.

Personally, I think this company is probaby about to go out of business - they have lots of inventory, and it's not exactly prudent to be investing in FL in the coastal areas now anyway.  

Thanks, Jim Rice in person or online?

If a property goes into foreclosure on a second, as Ken said you will either be buying it subject to the first mortgage - meaning it's your mortgage now - or the first has to be satisfied to take possession of the property - or the owner of the first is going to be there bidding what they are owed, so you would need to outbid them to get the property and then you are the person paying off the first mortgage. 

So it's just personal preference and budget for a host.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

I personally like Alabama and Tennessee a lot, depending on what specific area you're looking at.Look for Class B or C properties in stable rental markets, particularly single-family homes or duplexes.

I financed this property using down payment funds from 403B and a local commercial bank.

I only spoke with one person so far and they scheduled for more information gathering/ rental investment calls from them this upcoming week.