It's really a wash at that level considering you're adding the overhead of administering a corporation for tax

You have to consider number of factors before doing this, the property would have to be appraised and would be added to your income for the year in which you make the distribution, likely pushing your tax bracket up.If you simply wish to get into self-directed investing you may want to consider truly self-directed Solo 401k, it has number of advantages over SD IRA such as contributions limits 10X higher, no need for a custodian, checkbook control, exempt from UBIT on leveraged real estate and more.

In a way the way how school is exactly now......I really don’t see why this outdated model is still being pushed and marketed to mainstream America.

I did incorporate the water and electricity (the seller mentioned that the renters paid for their own), with the PITI eating up that much of the income (as you'd mentioned), the utilities would just push the whole thing over the edge.Thanks again for the quick reply and the second set of eyes.

Trying to just push through the fear of all this unknown! 

Maybe I should push it a little more.From what I understand, I can't be the crazy landlord and just hang out until the dude leaves.  

I know I'm susceptible to analysis paralysis sometimes but I'm working on pushing through it and "just buy something" :)

Hopefully, this introduction will be one more 'push' for me to get started.2) I like to work with people.3) RE feels more 'real' and engaging than the stock market.4) I want the financial freedom.What do you think?

It's typically a pretty predictable 30 day process, and with a hiccup you might push to 60 days, but it makes jumping into even high-risk areas a lot less daunting.

I hope for you that it's not the former :-)Make sure to stay in touch with the PM and make sure the seller doesn't tell them not to spend the money to turn over the unit.Looking on the full half of the glass, these are 4 units you can push the rents on day one instead of waiting for a lease to renew with one of the tenants in the building.