Unlike a 401(k), IRAs don’t allow loans.

(Plan is an FHA loan)If anyone can help me out with this it would be greatly appreciated!

Is it possible to get a gap loan and then a renovation loan then refinance after renovation is done.

If a loan via a bank requires the terms to be conventional (5% down), FHA (3.5% down), etc.

. $1,500 rent40% expenses$900 NOI per month$10,800 NOI per yearat a 7% cap rate that's $154,285 cost per unit$154,285 loan at 6% and a 30 amortization is $925 which is a 0.97 DSCRFor $900 a month NOI per unit, to get to a 1.25 DSCR you would need a monthly mortgage payment of $720 per unit.

If you're goal is to BRRRR the property, look for short term bridge/rehab loan options that will allow you to finance the acquisition AND rehab of the property.

Many will disagree with me on this, but I have personally originated several loans underwritten with Fannie Mae for conventional financing and accomplished the financing when there are 4 leases for a 4 bedroom SFR. 

These have been bank portfolio loans.

Examples: Medical Professional Financing (stronger rates and limited down), low down payments of 3.5-10% on jumbo primary, second home or investment properties, 10% down for investment properties of 1-4 units (with no PMI) and portfolio or private loans with attractive ARM or seller carried rates we negotiated. 

A bank will be way more likely to loan on land already entitled.