Instead of refinancing a good underlying fixed loan and pulling money out for investors, it's better to look at using a supplemental loan after the renovations are complete and you have achieved your rent projections (increasing its FMV). 

To me they each have their place when looking at goals; a combination of some current supplemental income, some taxable retirement income to pull flexible amounts from to manage tax brackets, and some tax free income for additional needs. 

If its a roll over IRA, it may be best to leave it as an inherited IRA--save it until you are ready to retire if its not under mandatory withdrawal.In this day and age $150k is not enough to live off for your lifetime without working to supplement it. 

All that said, I think that we are here on BiggerPockets because we believe that real estate makes a ton of sense as either an alternative to or supplement with other types of investments for many people, and can absolutely be used to benefit many lives financially and otherwise.Great discussion!

It is such an issue that we keep several space heaters in our office to supplement a situation until we can get it fixed and a tenant is NEVER without heat for more the 48 hours... which would be a long time for us and I have personally came out to the office after dark on a Sunday night to bring space heaters to a tenants house... and I don't even work in the property management operation...

Only cashflow can enable you to supplement the income from a job that you might not want to be doing.As the saying goes "If Cash is King then Cashflow must be Queen" lolJust my 2 AUD :)Thanks

(Supplemental) We also partnered with investors for the cash needed at closing, and to operate the asset.

It always seems that a few dedicated, comitted people make all the difference, in a previous life I was quite involved with one on a nationial level, the implementation of DSHEA (dietary supplements and health and education act) 1994.

The K-1 info would be reported on schedule E, but in the supplemental income section as a net income(Loss) from passive or active activities.

From a non-financial standpoint; many people's ideal goal with real estate is to create a revenue source that would either supplement their lifestyle or provide the freedom to leave their W-2 jobs.