KwanzaHi Kwanza, I can help answer this question as I've worked with investors and helped them buy LTRs, MTRs, and STRs (own quite a few myself as well).

He can't 'buy her out' as he does not have that much cash liquid.

If you buy an investment property with your IRA, most require a non-recourse loan.

@Rory DarcyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Investment Info:Condo buy & hold investment.

Many investors opt for building broker relationships when buying 100+ unit properties, but it also takes time to build a relationship with the broker. 

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If you learn how to use Hard Money loans properly and how to find good deals in need of rehab, there are plenty of areas of the country where you could buy 3-4 rent properties in solid middle class areas with good cashflow.

I use Foremost for my mobile home investing business with the properties I buy and hold.

He usually buys in C neighborhoods and has to do heavy rehab, but he's a construction guy that also runs his own property management company, so it's 2nd nature for him.