I personally don't like the idea of using OPM as is often recommended for people without their own capital.

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

You have $70k in equity tied up, earning a low return relative to its potential.

Quote from @Daniel Windingstad: Quote from @Obed Calixte: Some people have the personality, processes and systems & time to self manage, some do not.

I will reach out to you personally, please keep an eye out in your inbox.

Personally I think this is where a lot of sale lease back programs fail the seller.

Some operator takes some pity on me and says I can do some of this expedited and in person but only at Lake Zurich, Mount Prospect or Springfield walk in. 

I'm not a professional Tax person.

I'd personally sell the townhouse (doesn't sound like it cashflows or would make a good rental property) - you may have no capital gains if you have lived in it the past 2 out of 5 years - I believe the first 250k for single filers is exempt from taxes and the first 500k for married couples.

The person who comes into money but not a lot of experience in real estate should be a little more cautious right now.So overall, I am not saying - do not buy, I am saying be careful.