I am talking with potential partners if I can distribute property out of my IRA and do a joint venture with a contractor owner. we are still sorting out the details on how to move forward on that front.Any thoughts on how to do this and if it is worth while to tackle a property with lots of smoke damage?

i want to start in wholesales to build some capital and then venture into fix and flips and then get some rental income properties

For me it is a means to free myself (eventually) and be able to pursue other business ventures.

@K Marie Poe....can't get that to work.....I agree, the problem with government dollars is that there will always be strings attached, some can be rather long and knotted too.All in all, you'd do very well getting in such a venture I've been involved in a couple of limited assisted living homes, just let the NP take the lead with the power to be for rehab and zonning issues.

Sometimes people that come into money have confusion about things.You could use this money as a bank for your own purchases plus make hard money loans.Starting small with a new venture would be what I'd do but that may not be your style.Will you quit your job to pursue your investing and create a business from this?

If you find yourself doing something repetitive, boring or anything that is not focused on profit-making ventures, get someone else to do it.

Sheena proper Due Diligence is needed for this to be a successful venture for you.

If the venture is successful in year 1 then you can grant him additional equity into the company.

I am also considering venturing out to the Court House again.Please excuse spelling - I can't read the font on my messed-up laptop.

And congrats & best of luck on your new "full time" venture!!!