On that priority, I'd walk.Personally I feel that these type of investments can produce monthly as well as long term, time will tell if I am right.Please don't take my thoughts anything other than professional critique were I looking at this property.

You think you need money to obtain properties as long term (30yrs+) passive income producing investments.

I plan on interviewing all the local brokers,  it sounds like they will take anyone and everyone,  people who don't produce simply quit.      

If you leave the money in an IRA and choose to invest in an asset such as real estate that produces consistent income (as opposed to speculative appreciation gains common in equities), then you will have the full value of the account to work with. 

They seemed like they had some inside knowledge and a great system that guarantee results when it comes to income producing properties.  

I am not anti Vegas buy n hold RE: It has produced outstanding returns for the last few years. 

They seemed like they had some inside knowledge and a great system that guarantee results when it comes to income producing properties.

That way you have one property that produces cash flow and one that you break even, cash flow, or pay very little rent.

It makes no sense whatsoever to dump tens of thousands of dollars into a lot that will produce $400+- gross income.

On the other hand, I'm 46 years old and I don't have 30 years to wait to produce an income which can support me.