2) Are you pre-approved and have the down payment in your bank account?

I did all my other due diligence like asking for paystubs, W2s, Tax returns, Employment verification, bank statements etc etc and did not see any red flags overall.

In order to have checkbook control, the IRA account will need to be at a trust company that will allow the IRA to invest in an LLC (where you will be the manager and your IRA will be member - an as manager you will have checkbook access to the LLC bank account).

if they are pressuring you like this.PLEASE watch the American Greed Episode on Remmington Financial  .not saying these guys wont or don't fund of course.. but when I do my deals with my banks its common that I pay for the phase one and the appraiser directly..  

In this manual (which I assume could be modified to provide to tenants) I include all the financing information (which you would not include for tenants) bank accounts, mortgage accounts, payment information, and mortgage payoff), a list of the contractors, what each contractor does, a list of upcoming planned or necessary repairs, and a copy of all leases associated with the property.

You can talk to the bank about a loan; however, my bet is they will want some form of contract and scope of work and will only pay him at set milestones.

If they're working with a bank/CU, then it's even less.

Have also done work in DC and Maryland and would say Virginia has significant benefits over DC and Maryland because it is more business friendly and jurisdictions are willing to work with not against developers on projects I mentioned as well as you mentioned With the federal government and government contractors not going away - area is great for investment.

Does she or I call the bank to see if it's possible to transfer?

When there is a sum of money in the bank, I’d rather buy another property than pay for fire damage, and I’m happier with the insurance coverage.